B. Riley Weighs in on Ready Capital Corp’s Q3 2019 Earnings (RC)
Ready Capital Corp (NYSE:RC) – Equities researchers at B. Riley increased their Q3 2019 earnings estimates for Ready Capital in a research report issued to clients and investors on Thursday, March 14th. B. Riley analyst T. Hayes now forecasts that the real estate investment trust will post earnings of $0.46 per share for the quarter, up from their prior forecast of $0.45. B. Riley also issued estimates for Ready Capital’s Q1 2020 earnings at $0.43 EPS, Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.48 EPS and FY2020 earnings at $1.83 EPS.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Ready Capital from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $15.50 price target on shares of Ready Capital in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.14.
Ready Capital (NYSE:RC) last announced its quarterly earnings results on Tuesday, March 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). Ready Capital had a return on equity of 10.24% and a net margin of 28.04%. The company had revenue of $14.96 million during the quarter, compared to analyst estimates of $16.78 million.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.84%. Ready Capital’s dividend payout ratio is currently 90.91%.
About Ready Capital
Ready Capital Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small 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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