Ready Capital Corp (RC) Declares $0.40 Quarterly Dividend

Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Wednesday, March 13th, Wall Street Journal reports. Stockholders of record on Thursday, March 28th will be paid a dividend of 0.40 per share by the real estate investment trust on Tuesday, April 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.63%. The ex-dividend date of this dividend is Wednesday, March 27th.

Ready Capital has a dividend payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Ready Capital to earn $1.84 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 87.0%.

Shares of NYSE:RC opened at $15.05 on Thursday. Ready Capital has a one year low of $13.44 and a one year high of $17.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $501.48 million, a PE ratio of 8.55 and a beta of 0.80.

Ready Capital (NYSE:RC) last announced its earnings results on Tuesday, March 12th. The real estate investment trust reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). Ready Capital had a net margin of 28.04% and a return on equity of 10.24%. The business had revenue of $14.96 million during the quarter, compared to analysts’ expectations of $16.78 million. As a group, sell-side analysts predict that Ready Capital will post 1.81 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 target price on shares of Ready Capital in a report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Ready Capital has a consensus rating of “Hold” and an average price target of $17.14.

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Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small 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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Dividend History for Ready Capital (NYSE:RC)

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