Ready Capital Co. (NYSE:RC) Receives $9.11 Average Price Target from Analysts

Shares of Ready Capital Co. (NYSE:RC) have earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.11.

A number of brokerages recently issued reports on RC. UBS Group dropped their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. JMP Securities cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Finally, Piper Sandler decreased their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th.

Ready Capital Stock Performance

Shares of NYSE RC opened at $6.94 on Friday. Ready Capital has a 12 month low of $6.65 and a 12 month high of $10.36. The company has a market cap of $1.17 billion, a P/E ratio of -9.91 and a beta of 1.43. The business’s 50 day moving average is $7.18 and its two-hundred day moving average is $7.85. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 14.41%. Ready Capital’s dividend payout ratio is currently -142.86%.

Institutional Trading of Ready Capital

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after buying an additional 112,934 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Ready Capital by 3.3% in the 3rd quarter. Principal Financial Group Inc. now owns 792,536 shares of the real estate investment trust’s stock worth $6,047,000 after acquiring an additional 25,545 shares in the last quarter. Geode Capital Management LLC grew its position in Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after acquiring an additional 150,479 shares during the last quarter. Barclays PLC increased its holdings in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after purchasing an additional 326,467 shares in the last quarter. Finally, State Street Corp raised its position in Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after purchasing an additional 287,068 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

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.