Brokerages Set Ready Capital Co. (NYSE:RC) PT at $9.11

Shares of Ready Capital Co. (NYSE:RC) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $9.11.

A number of analysts recently weighed in on RC shares. JMP Securities reduced their target price on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. UBS Group dropped their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Finally, Piper Sandler lowered their price objective on shares of 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 Price Performance

Shares of NYSE RC opened at $6.94 on Friday. The firm has a 50-day moving average of $7.18 and a two-hundred day moving average of $7.85. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.91 and a beta of 1.43. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital has a twelve month low of $6.65 and a twelve month high of $10.36.

Ready Capital Dividend Announcement

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

Institutional Investors Weigh In On Ready Capital

A number of large investors have recently bought and sold shares of the business. KBC Group NV boosted its position in Ready Capital by 64.1% during the third 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 during the period. Xponance Inc. acquired a new stake in shares of Ready Capital in the second quarter worth $84,000. Choreo LLC bought a new stake in shares of Ready Capital during the 2nd quarter worth $91,000. Modera Wealth Management LLC acquired a new position in Ready Capital in the 3rd quarter valued at $107,000. Finally, Naviter Wealth LLC raised its holdings in Ready Capital by 35.0% in the 2nd quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 3,500 shares during the period. 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.