Ready Capital (NYSE:RC) Sees Strong Trading Volume

Ready Capital Co. (NYSE:RC – Get Rating) saw strong trading volume on Friday . 1,632,185 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 1,134,786 shares.The stock last traded at $9.48 and had previously closed at $9.89.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group lifted their target price on shares of Ready Capital from $11.00 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, December 21st. Piper Sandler decreased their target price on shares of Ready Capital from $13.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 28th. StockNews.com assumed coverage on shares of Ready Capital in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ready Capital from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.93.

Ready Capital Price Performance

The business’s 50-day simple moving average is $12.13 and its 200-day simple moving average is $12.09. The stock has a market cap of $1.05 billion, a PE ratio of 5.56 and a beta of 1.37. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.63.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Ready Capital had a net margin of 27.22% and a return on equity of 11.52%. The firm had revenue of $249.49 million for the quarter, compared to analysts’ expectations of $73.45 million. On average, research analysts expect that Ready Capital Co. will post 1.6 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 16.91%. The ex-dividend date is Thursday, March 30th. Ready Capital’s dividend payout ratio is currently 94.12%.

Insider Activity at Ready Capital

In related news, Director Dominique Mielle purchased 7,500 shares of Ready Capital stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the transaction, the director now directly owns 35,988 shares of the company’s stock, valued at $509,230.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dominique Mielle purchased 7,500 shares of Ready Capital stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average price of $14.15 per share, for a total transaction of $106,125.00. Following the completion of the transaction, the director now directly owns 35,988 shares of the company’s stock, valued at $509,230.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert E. Nathan acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were acquired at an average cost of $10.95 per share, for a total transaction of $54,750.00. Following the purchase, the director now directly owns 56,565 shares of the company’s stock, valued at $619,386.75. The disclosure for this purchase can be found here. 1.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ready Capital

Hedge funds have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV bought a new stake in Ready Capital during the fourth quarter worth about $33,000. Wolverine Asset Management LLC bought a new position in shares of Ready Capital in the third quarter worth approximately $35,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Ready Capital in the second quarter worth approximately $67,000. Global Retirement Partners LLC bought a new position in shares of Ready Capital in the third quarter worth approximately $89,000. Finally, CI Private Wealth LLC bought a new position in shares of Ready Capital in the fourth quarter worth approximately $112,000. Institutional investors own 62.84% of the company’s stock.

Ready Capital Company Profile

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC.