Ready Capital Corp Plans Quarterly Dividend of $0.25 (NYSE:RC)

Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.25 per share by the real estate investment trust on Friday, July 31st. This represents a $1.00 dividend on an annualized basis and a yield of 11.74%. The ex-dividend date of this dividend is Monday, June 29th.

Ready Capital has a payout ratio of 140.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ready Capital to earn $0.94 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 170.2%.

RC stock opened at $8.52 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $477.01 million, a P/E ratio of -283.91 and a beta of 0.98. The business’s 50-day moving average is $7.13 and its two-hundred day moving average is $11.03. Ready Capital has a 1 year low of $3.92 and a 1 year high of $16.90.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.35). The company had revenue of $22.62 million during the quarter, compared to analyst estimates of $24.87 million. Ready Capital had a negative net margin of 2.77% and a positive return on equity of 7.30%. On average, analysts expect that Ready Capital will post 1.04 EPS for the current year.

In other news, COO Gary Taylor purchased 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $6.02 per share, for a total transaction of $49,665.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.83% of the company’s stock.

A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Ready Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. B. Riley increased their price target on Ready Capital from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. LADENBURG THALM/SH SH lowered Ready Capital from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 12th. JMP Securities raised their target price on Ready Capital from $10.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, June 18th. Finally, ValuEngine raised Ready Capital from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.29.

About Ready Capital

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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Dividend History for Ready Capital (NYSE:RC)

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