Ready Capital (NYSE:RC) Given New $6.25 Price Target at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its price objective lowered by Keefe, Bruyette & Woods from $6.75 to $6.25 in a research report report published on Tuesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. UBS Group lowered their price target on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Piper Sandler lowered their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.61.

Ready Capital Trading Up 0.5 %

Shares of RC opened at $6.63 on Tuesday. Ready Capital has a twelve month low of $6.45 and a twelve month high of $10.02. The firm has a market capitalization of $1.12 billion, a P/E ratio of -9.47 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. The stock’s fifty day simple moving average is $7.16 and its 200 day simple moving average is $7.76.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 15.08%. The ex-dividend date is Tuesday, December 31st. Ready Capital’s dividend payout ratio is currently -142.86%.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Ready Capital by 2.2% in the second quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 1,375 shares during the last quarter. Choreo LLC acquired a new position in shares of Ready Capital in the 2nd quarter worth approximately $91,000. Public Sector Pension Investment Board increased its holdings in shares of Ready Capital by 5.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust’s stock valued at $2,796,000 after acquiring an additional 17,279 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Ready Capital during the 2nd quarter valued at approximately $84,000. Finally, Marshall Wace LLP bought a new position in Ready Capital during the second quarter worth $514,000. Institutional investors and hedge funds 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.