Ready Capital (NYSE:RC) Upgraded by TheStreet to B-

TheStreet upgraded shares of Ready Capital (NYSE:RC) from a c rating to a b- rating in a research report released on Wednesday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research lowered shares of Ready Capital from a hold rating to a sell rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $16.50.

RC traded up $0.08 on Wednesday, hitting $14.53. The company had a trading volume of 6,307 shares, compared to its average volume of 132,158. The firm has a market cap of $641.87 million, a P/E ratio of 8.26 and a beta of 0.76. Ready Capital has a 1 year low of $13.44 and a 1 year high of $17.30. The company’s fifty day moving average price is $14.98 and its 200 day moving average price is $15.08. The company has a current ratio of 1.41, a quick ratio of 1.63 and a debt-to-equity ratio of 0.45.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $21.28 million for the quarter, compared to analyst estimates of $17.58 million. Ready Capital had a net margin of 30.47% and a return on equity of 8.40%. On average, analysts predict that Ready Capital will post 1.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.01%. The ex-dividend date was Thursday, June 27th. Ready Capital’s dividend payout ratio is currently 90.91%.

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of Ready Capital by 1.0% during the second quarter. Invesco Ltd. now owns 84,264 shares of the real estate investment trust’s stock worth $1,256,000 after buying an additional 864 shares in the last quarter. Advantage Investment Management LLC grew its stake in shares of Ready Capital by 10.5% during the 2nd quarter. Advantage Investment Management LLC now owns 19,354 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 1,846 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $29,000. Quantamental Technologies LLC acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $32,000. Finally, Bank of Montreal Can grew its stake in shares of Ready Capital by 189.6% during the 2nd quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 2,624 shares during the period. 36.95% 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 originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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