Ready Capital Co. (NYSE:RC – Get Rating) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 3,700,000 shares, a drop of 21.3% from the December 31st total of 4,700,000 shares. Based on an average daily volume of 838,500 shares, the short-interest ratio is currently 4.4 days.
Analyst Ratings Changes
→ The Next Big Crisis Is Here (From Porter & Company)
A number of research analysts have issued reports on the company. UBS Group boosted their price target on Ready Capital from $11.00 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, December 21st. StockNews.com raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 17th. Raymond James raised their price target on shares of Ready Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. Piper Sandler decreased their price objective on Ready Capital from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, October 3rd. Finally, BTIG Research cut their price objective on Ready Capital to $15.50 in a research report on Tuesday, November 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Ready Capital currently has an average rating of “Hold” and a consensus target price of $14.00.
Ready Capital Trading Up 0.1 %
Shares of RC stock opened at $12.97 on Friday. Ready Capital has a fifty-two week low of $9.69 and a fifty-two week high of $15.92. The company has a 50 day moving average price of $12.38 and a 200 day moving average price of $12.44. The stock has a market capitalization of $1.43 billion, a P/E ratio of 5.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 1.41.
Ready Capital Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 12.34%. The ex-dividend date is Thursday, December 29th. Ready Capital’s payout ratio is presently 69.87%.
Hedge Funds Weigh In On Ready Capital
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Ready Capital by 25.5% during the 3rd quarter. BlackRock Inc. now owns 15,476,684 shares of the real estate investment trust’s stock worth $156,934,000 after acquiring an additional 3,149,533 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ready Capital by 17.8% during the third quarter. Vanguard Group Inc. now owns 6,402,647 shares of the real estate investment trust’s stock worth $64,922,000 after purchasing an additional 967,743 shares in the last quarter. State Street Corp lifted its position in shares of Ready Capital by 24.4% during the 3rd quarter. State Street Corp now owns 3,329,238 shares of the real estate investment trust’s stock worth $35,130,000 after buying an additional 653,207 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ready Capital by 42.2% in the 1st quarter. Invesco Ltd. now owns 2,603,750 shares of the real estate investment trust’s stock valued at $39,211,000 after buying an additional 772,522 shares in the last quarter. Finally, Soltis Investment Advisors LLC purchased a new position in shares of Ready Capital in the 2nd quarter valued at $23,905,000. 62.84% of the stock is owned by institutional investors and hedge funds.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage-backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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