Shares of Ready Capital Co. (NYSE:RC – Get Rating) have earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $14.00.
RC has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of Ready Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. StockNews.com raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 17th. UBS Group lifted their price target on shares of Ready Capital from $11.00 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, December 21st. Keefe, Bruyette & Woods cut shares of Ready Capital from an “outperform” rating to a “market perform” rating and set a $13.00 price target on the stock. in a research report on Thursday, December 15th. Finally, Piper Sandler dropped their price objective on shares of Ready Capital from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, October 3rd.
Ready Capital Price Performance
Shares of RC stock opened at $11.14 on Tuesday. Ready Capital has a 52-week low of $9.69 and a 52-week high of $16.43. The stock has a market cap of $1.23 billion, a PE ratio of 4.86 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. The firm’s 50 day moving average price is $12.49 and its two-hundred day moving average price is $12.45.
Ready Capital Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.36%. The ex-dividend date is Thursday, December 29th. Ready Capital’s dividend payout ratio (DPR) is presently 69.87%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Ready Capital by 35.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 801,559 shares of the real estate investment trust’s stock worth $8,128,000 after buying an additional 207,866 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Ready Capital during the 3rd quarter worth about $164,000. Sunbelt Securities Inc. boosted its holdings in shares of Ready Capital by 1.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 77,811 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 773 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Ready Capital by 5.9% during the 3rd quarter. Captrust Financial Advisors now owns 30,373 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 1,684 shares during the period. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of Ready Capital by 80.3% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 40,995 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 18,260 shares during the period. Institutional investors own 62.84% of the company’s stock.
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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