Ready Capital Co. (NYSE:RC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ready Capital Co. (NYSE:RC) have received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.61.

Several equities analysts have weighed in on RC shares. B. Riley reiterated a “neutral” rating and set a $10.00 price objective (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. UBS Group lowered their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Keefe, Bruyette & Woods lowered their price objective on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, JMP Securities lowered their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th.

Hedge Funds Weigh In On Ready Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Ready Capital by 19.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust’s stock valued at $2,950,000 after purchasing an additional 70,314 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Ready Capital by 11.7% in the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 4,486 shares during the last quarter. State of Wyoming acquired a new stake in shares of Ready Capital in the 4th quarter valued at $1,094,000. ProShare Advisors LLC lifted its stake in shares of Ready Capital by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 48,840 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 14,994 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ready Capital by 5.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust’s stock valued at $13,766,000 after purchasing an additional 98,895 shares during the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

Ready Capital Trading Up 0.5 %

NYSE RC opened at $6.89 on Friday. Ready Capital has a twelve month low of $6.39 and a twelve month high of $9.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -9.84 and a beta of 1.43. The firm’s 50 day moving average price is $6.89 and its two-hundred day moving average price is $7.37.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 14.52%. The ex-dividend date was Tuesday, December 31st. Ready Capital’s dividend payout ratio is currently -142.86%.

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.