Ready Capital Co. (NYSE:RC) Given Average Recommendation of “Hold” by Analysts

Ready Capital Co. (NYSE:RC) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $10.93.

A number of research firms have commented on RC. B. Riley reaffirmed a “buy” rating and set a $12.00 price objective (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. BTIG Research reduced their price objective on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, UBS Group reduced their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th.

Insider Buying and Selling

In other news, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the transaction, the director now directly owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Ready Capital news, Director Kevin M. Luebbers bought 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was purchased at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now owns 119,925 shares in the company, valued at $1,010,967.75. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders bought 17,150 shares of company stock valued at $148,280 over the last quarter. 0.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RC. Bear Mountain Capital Inc. acquired a new position in shares of Ready Capital in the fourth quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new position in shares of Ready Capital in the fourth quarter valued at approximately $36,000. MCF Advisors LLC acquired a new position in shares of Ready Capital in the first quarter valued at approximately $42,000. Allspring Global Investments Holdings LLC increased its stake in shares of Ready Capital by 112.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 4,039 shares during the period. Finally, Naviter Wealth LLC acquired a new position in shares of Ready Capital in the first quarter valued at approximately $94,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Price Performance

Shares of RC opened at $8.86 on Monday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 3.72 and a beta of 1.40. Ready Capital has a 1-year low of $8.25 and a 1-year high of $11.97. The company’s fifty day simple moving average is $8.81 and its 200 day simple moving average is $9.59. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44.

Ready Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.55%. Ready Capital’s payout ratio is presently 51.28%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.