Ready Capital Co. (NYSE:RC) Receives $8.61 Consensus Price Target from Analysts

Shares of Ready Capital Co. (NYSE:RC) have earned an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $8.61.

Several analysts recently commented on RC shares. JMP Securities reduced their target price on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. UBS Group reduced their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. B. Riley restated a “neutral” rating and set a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods cut their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors have recently modified their holdings of the company. AlphaCore Capital LLC raised its position in shares of Ready Capital by 25.4% during the fourth quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 4,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ready Capital by 19.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust’s stock worth $2,950,000 after purchasing an additional 70,314 shares during the period. Squarepoint Ops LLC raised its position in shares of Ready Capital by 11.7% during the fourth quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 4,486 shares during the period. State of Wyoming acquired a new position in shares of Ready Capital during the fourth quarter worth approximately $1,094,000. Finally, ProShare Advisors LLC raised its position in shares of Ready Capital by 44.3% during the fourth quarter. ProShare Advisors LLC now owns 48,840 shares of the real estate investment trust’s stock worth $333,000 after purchasing an additional 14,994 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Stock Performance

Shares of RC stock opened at $6.73 on Friday. The business’s 50 day simple moving average is $6.87 and its 200 day simple moving average is $7.34. Ready Capital has a one year low of $6.39 and a one year high of $9.53. The stock has a market capitalization of $1.13 billion, a PE ratio of -9.61 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.87%. The ex-dividend date of this dividend was Tuesday, December 31st. Ready Capital’s payout ratio is -142.86%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.