Ready Capital Corp (NYSE:RC) Declares $0.01 Quarterly Dividend

Ready Capital Corp (NYSE:RC) declared a quarterly dividend on Monday, December 15th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.01 per share by the real estate investment trust on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, December 31st.

Ready Capital has decreased its dividend payment by an average of 0.1%annually over the last three years. Ready Capital has a dividend payout ratio of 89.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 47.6%.

Ready Capital Trading Down 5.4%

NYSE:RC traded down $0.13 during trading hours on Tuesday, hitting $2.21. The company had a trading volume of 1,280,706 shares, compared to its average volume of 2,519,026. Ready Capital has a 1 year low of $2.13 and a 1 year high of $7.64. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $2.85 and a 200 day moving average of $3.76. The company has a market cap of $357.50 million, a P/E ratio of -1.15 and a beta of 1.44.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share for the quarter. The firm had revenue of ($9.77) million during the quarter. Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. Sell-side analysts expect that Ready Capital will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

RC has been the topic of several recent analyst reports. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a research note on Wednesday, October 8th. Finally, UBS Group lowered their price target on Ready Capital from $3.50 to $2.75 and set a “neutral” rating for the company in a report on Friday, November 14th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $3.81.

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.