Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Ready Capital (NYSE:RC) Stock

by · The Cerbat Gem

Ready Capital (NYSE:RC – Free Report) had its target price increased by Keefe, Bruyette & Woods from $3.75 to $4.25 in a research note released on Thursday morning,Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

Separately, UBS Group dropped their price target on Ready Capital from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.04.

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Ready Capital Trading Down 3.2%

Shares of RC stock opened at $4.45 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $4.41 and a two-hundred day moving average price of $5.31. Ready Capital has a 12-month low of $3.93 and a 12-month high of $9.54. The firm has a market cap of $757.92 million, a P/E ratio of -2.55 and a beta of 1.43.

Ready Capital (NYSE:RC – Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a positive return on equity of 5.53% and a negative net margin of 34.40%. The firm had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Equities analysts anticipate that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, June 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.25%. Ready Capital’s dividend payout ratio (DPR) is currently -28.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RC. Larson Financial Group LLC bought a new stake in shares of Ready Capital in the first quarter worth about $27,000. US Bancorp DE grew its stake in shares of Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 4,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Ready Capital in the first quarter worth about $32,000. Sterling Capital Management LLC grew its stake in shares of Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 4,616 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Ready Capital by 1,410.5% in the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 6,841 shares during the period. 55.87% of the stock is owned by institutional investors.

Ready Capital Company Profile

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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.

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