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

Ready Capital Co. (NYSE:RC) has been assigned an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $10.93.

RC has been the topic of several research reports. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. BTIG Research decreased their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. UBS Group reduced their price target on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, B. Riley reaffirmed a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a report on Monday, March 4th.

Ready Capital Trading Up 1.7 %

Shares of RC opened at $8.85 on Monday. Ready Capital has a twelve month low of $8.25 and a twelve month high of $11.97. The firm has a market capitalization of $1.53 billion, a P/E ratio of 3.78 and a beta of 1.40. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $9.57.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.56%. The ex-dividend date is Wednesday, March 27th. Ready Capital’s payout ratio is currently 51.28%.

Insider Activity at Ready Capital

In related news, Director Kevin M. Luebbers acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the acquisition, the director now directly owns 119,925 shares in the company, valued at $1,010,967.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Kevin M. Luebbers bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the transaction, the director now owns 119,925 shares in the company, valued at $1,010,967.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The disclosure for this purchase can be found here. Insiders have purchased 17,150 shares of company stock valued at $148,280 over the last ninety days. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC acquired a new position in shares of Ready Capital during the first quarter valued at $274,000. Midwest Heritage Bank FSB acquired a new position in Ready Capital during the 1st quarter valued at about $106,000. Kovack Advisors Inc. grew its position in Ready Capital by 25.2% in the 1st quarter. Kovack Advisors Inc. now owns 18,789 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 3,780 shares during the last quarter. Norden Group LLC grew its position in Ready Capital by 773.1% in the 1st quarter. Norden Group LLC now owns 128,163 shares of the real estate investment trust’s stock worth $1,170,000 after purchasing an additional 113,484 shares during the last quarter. Finally, Naviter Wealth LLC bought a new stake in shares of Ready Capital during the first quarter valued at approximately $94,000. 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.