Ready Capital Co. (NYSE:RC) Receives $7.86 Consensus Target Price from Brokerages

Shares of Ready Capital Co. (NYSE:RC) have received an average rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.50.

A number of research firms recently commented on RC. B. Riley reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. UBS Group reduced their target price on Ready Capital from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods reduced their target price on Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. Wedbush reissued a “neutral” rating and issued a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Finally, JMP Securities reduced their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th.

Insider Transactions at Ready Capital

In related news, insider Adam Zausmer acquired 10,000 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the completion of the acquisition, the insider now directly owns 301,105 shares of the company’s stock, valued at approximately $1,631,989.10. This represents a 3.44 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.09% of the stock is currently owned by company insiders.

Institutional Trading of Ready Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position 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 purchasing an additional 25,545 shares in the last quarter. KBC Group NV boosted its position in shares of Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,248 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Ready Capital by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock worth $1,008,000 after purchasing an additional 3,123 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Ready Capital in the 3rd quarter worth approximately $160,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Ready Capital by 99.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 399,401 shares of the real estate investment trust’s stock worth $3,047,000 after purchasing an additional 199,202 shares in the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Stock Down 0.5 %

RC opened at $4.99 on Thursday. The stock has a market cap of $813.31 million, a PE ratio of -7.12 and a beta of 1.43. 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 has a 52 week low of $4.74 and a 52 week high of $9.54. The business’s fifty day simple moving average is $6.42 and its 200 day simple moving average is $7.04.

Ready Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.03%. Ready Capital’s dividend payout ratio is currently -18.94%.

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.