Ready Capital Co. (NYSE:RC) Given Average Rating of “Buy” by Brokerages

Shares of Ready Capital Co. (NYSE:RC – Get Rating) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $17.50.

Several brokerages recently issued reports on RC. Zacks Investment Research downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. StockNews.com began coverage on shares of Ready Capital in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management raised its position in shares of Ready Capital by 115.7% in the first quarter. Spire Wealth Management now owns 3,825 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 2,052 shares in the last quarter. Selective Wealth Management Inc. acquired a new stake in shares of Ready Capital in the first quarter valued at approximately $63,000. Penserra Capital Management LLC acquired a new stake in shares of Ready Capital in the third quarter valued at approximately $81,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Ready Capital in the first quarter valued at approximately $90,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Ready Capital by 20.4% in the first quarter. Mutual of America Capital Management LLC now owns 9,687 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,643 shares in the last quarter. Institutional investors own 41.03% of the company’s stock.

Shares of NYSE:RC opened at $14.69 on Monday. Ready Capital has a 52-week low of $13.24 and a 52-week high of $16.78. The company has a market capitalization of $1.24 billion, a P/E ratio of 6.33 and a beta of 1.05. The company has a 50-day simple moving average of $14.79 and a 200 day simple moving average of $15.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.47 and a current ratio of 1.47.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, March 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.68 annualized dividend and a yield of 11.44%. Ready Capital’s dividend payout ratio (DPR) is presently 72.41%.

About Ready Capital (Get Rating)

Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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