Analysts Rate Ready Capital Co. (NYSE:RC) with Price Target of $7.86

The shares of Ready Capital Co. (NYSE:RC) have garnered a consensus rating of "Hold" from nine analysts currently covering the stock, according to recent reports. Specifically, one analyst has recommended selling the stock, seven analysts have assigned it a hold rating, and one analyst has given it a buy rating. The average price target set by analysts for Ready Capital over the next year is approximately $7.50.

A number of equity research firms have recently issued updates regarding Ready Capital's stock. For instance, Keefe, Bruyette & Woods cut their price target for the stock from $6.25 to $4.00, issuing an "underperform" rating in their report dated March 5th. B. Riley maintained a "neutral" rating but lowered their target price to $10.00 from $12.00 in a report released on January 7th. JMP Securities reduced their price target for Ready Capital from $10.50 to $9.50 while continuing to label the stock as a "market outperform" in a note on December 12th. Wedbush also reaffirmed a "neutral" rating, adjusting their price objective from $8.00 to $6.00 on March 4th. Lastly, UBS Group decreased their target from $7.00 to $5.00, maintaining a "neutral" rating as well.

Insider Transactions

In related news, insider Adam Zausmer acquired 10,000 shares of Ready Capital on March 7th, purchasing them at an average price of $5.42 per share, amounting to a total investment of $54,200. Following this acquisition, he now owns 301,105 shares in the company, valued at approximately $1,631,989. This transaction represents a 3.44% increase in his holding. The details of this transaction have been disclosed in a filing with the Securities and Exchange Commission (SEC), which is accessible through their official website. Currently, insiders hold about 1.09% of the stock.

Institutional Holdings

Several institutional investors have adjusted their positions in Ready Capital recently. For example, Vanguard Group Inc. increased its holdings by 7.3% during the fourth quarter, now owning 11,366,828 shares valued at around $77,522,000 after purchasing an additional 768,891 shares. Hudson Bay Capital Management LP also bought a new stake in the company during the same period, valued at approximately $4,393,000. Meanwhile, Charles Schwab Investment Management Inc. raised its stake by 21.3%, owning 2,266,585 shares worth about $15,458,000 after an additional purchase of 398,005 shares. Marshall Wace LLP increased their position by an impressive 3,049.5%, owning 392,559 shares valued at $2,677,000 after buying an additional 380,095 shares. Lastly, GraniteShares Advisors LLC made a new investment in Ready Capital worth about $2,480,000. Overall, institutional and hedge fund investors hold roughly 55.87% of the stock.

Ready Capital’s Market Performance

On Thursday, Ready Capital's stock opened at $5.02. The stock has a 1-year low of $4.74 and a high of $9.53. It has a market capitalization of $818.20 million, a price-to-earnings (P/E) ratio of -7.16, and a beta of 1.43. The company’s stock has a 50-day moving average of $6.42 and a 200-day moving average of $7.05. The current ratio stands at 1.67, with a quick ratio also at 1.67, and a debt-to-equity ratio of 0.54.

Dividend Announcement

Ready Capital has announced a quarterly dividend, which is scheduled to be paid on April 30th. Stockholders of record as of March 31st will receive a dividend of $0.125 per share, equating to an annualized dividend of $0.50 and a yield of 9.97%. The ex-dividend date is also March 31st. Notably, Ready Capital’s dividend payout ratio currently stands at -18.94%.

About Ready Capital

Ready Capital Corporation is a real estate financing company operating within the United States. Its operations are divided into two segments: LMM Commercial Real Estate and Small Business Lending. The company is involved in originating, acquiring, financing, and servicing loans for lower-to-middle-market commercial real estate, Small Business Administration (SBA) loans, residential mortgages, construction loans, and mortgage-backed securities that are primarily collateralized by LMM loans or related real estate investments.

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