Wedbush Reiterates “Neutral” Rating for Ready Capital (NYSE:RC)

Wedbush reiterated their neutral rating on shares of Ready Capital (NYSE:RC) in a research report report published on Tuesday morning,RTT News reports. They currently have a $6.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $8.00. Wedbush also issued estimates for Ready Capital’s Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.59 EPS and FY2026 earnings at $0.76 EPS.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a report on Tuesday, January 14th. JMP Securities reduced their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. UBS Group reduced their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. B. Riley reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Finally, Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.86.

Ready Capital Stock Performance

NYSE:RC opened at $5.00 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $841.81 million, a price-to-earnings ratio of -7.14 and a beta of 1.43. The firm’s fifty day simple moving average is $6.68 and its 200 day simple moving average is $7.21. Ready Capital has a twelve month low of $4.74 and a twelve month high of $9.53.

Ready Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 10.01%. The ex-dividend date is Monday, March 31st. Ready Capital’s payout ratio is currently -142.86%.

Insider Transactions at Ready Capital

In related news, CEO Thomas E. Capasse bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $4.80 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now owns 319,925 shares of the company’s stock, valued at approximately $1,535,640. This trade represents a 3.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Ready Capital by 3,075.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 6,150 shares during the last quarter. Avion Wealth bought a new stake in shares of Ready Capital during the 4th quarter valued at about $47,000. KBC Group NV grew its position in shares of Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,248 shares during the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Ready Capital during the 4th quarter valued at about $68,000. Institutional investors own 55.87% of the company’s stock.

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.