Ready Capital (NYSE:RC) PT Lowered to $8.00

by · The Markets Daily

Ready Capital (NYSE:RC – Free Report) had its price objective decreased by Piper Sandler from $9.50 to $8.00 in a research note released on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods dropped their target price on Ready Capital from $8.00 to $7.75 and set an underperform rating for the company in a report on Monday, August 12th. Wedbush reissued a neutral rating and set a $9.00 target price on shares of Ready Capital in a research note on Monday, August 12th. Finally, BTIG Research assumed coverage on Ready Capital in a report on Friday, July 19th. They issued a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $9.38.

View Our Latest Analysis on Ready Capital

Ready Capital Trading Up 3.7 %

NYSE RC opened at $8.35 on Monday. Ready Capital has a 1 year low of $7.52 and a 1 year high of $11.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $1.40 billion, a PE ratio of 5.18 and a beta of 1.42. The company has a fifty day moving average of $8.57 and a 200 day moving average of $8.58.

Ready Capital (NYSE:RC – Get Free Report) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. The business had revenue of $234.12 million for the quarter, compared to analysts’ expectations of $61.77 million. During the same quarter last year, the business earned $0.35 EPS. Research analysts forecast that Ready Capital will post 1.02 earnings per share for the current year.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 11.98%. Ready Capital’s dividend payout ratio is currently 74.53%.

Institutional Trading of Ready Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RC. CWM LLC grew its stake in Ready Capital by 94.6% during the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,634 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Ready Capital during the first quarter worth $40,000. MCF Advisors LLC bought a new position in Ready Capital in the first quarter worth about $42,000. Naviter Wealth LLC acquired a new position in Ready Capital during the 1st quarter valued at approximately $94,000. Finally, Cadence Bank bought a new position in Ready Capital in the 1st quarter worth about $91,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Ready Capital Company Profile

(Get Free Report)

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.

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