According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “
Separately, ValuEngine raised Yandex from a hold rating to a buy rating in a research note on Saturday, April 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Ready Capital currently has a consensus rating of Hold and an average target price of $17.08.
RC opened at $15.00 on Thursday. The business’s 50-day moving average price is $14.95. Ready Capital has a 12-month low of $13.44 and a 12-month high of $17.30. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.44. The firm has a market cap of $665.92 million, a price-to-earnings ratio of 8.52 and a beta of 0.76.
Ready Capital (NYSE:RC) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.08). Ready Capital had a return on equity of 8.73% and a net margin of 31.79%. The firm had revenue of $12.98 million for the quarter, compared to analyst estimates of $15.00 million. On average, research analysts anticipate that Ready Capital will post 1.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 10.67%. The ex-dividend date of this dividend is Thursday, June 27th. Ready Capital’s payout ratio is 90.91%.
In related news, Director Todd M. Sinai purchased 3,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $14.74 per share, for a total transaction of $51,590.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.83% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Weiss Asset Management LP purchased a new position in shares of Ready Capital in the 1st quarter valued at about $4,235,000. MetLife Investment Advisors LLC purchased a new position in shares of Ready Capital in the 1st quarter valued at about $129,000. Nordea Investment Management AB purchased a new position in shares of Ready Capital in the 1st quarter valued at about $1,352,000. Rhumbline Advisers purchased a new position in shares of Ready Capital in the 1st quarter valued at about $364,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Ready Capital in the 1st quarter valued at about $2,786,000. Institutional investors own 36.94% of the company’s stock.
About Ready Capital
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
Featured Article: How is a management fee different from a performance fee?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ready Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ready Capital and related companies with MarketBeat.com's FREE daily email newsletter.