Brokerages Set Ready Capital Co. (NYSE:RC) Target Price at $17.14

Ready Capital Co. (NYSE:RC) has been assigned an average rating of “Buy” from the eight analysts that are presently covering the firm, reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.14.

A number of research analysts recently issued reports on RC shares. Raymond James raised their target price on shares of Ready Capital from $16.50 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, November 9th. Zacks Investment Research upgraded shares of Ready Capital from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, November 10th.

In related news, Director Andrea Petro purchased 2,000 shares of Ready Capital stock in a transaction on Friday, November 12th. The stock was purchased at an average cost of $16.20 per share, with a total value of $32,400.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.67% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in RC. TCI Wealth Advisors Inc. lifted its holdings in shares of Ready Capital by 1,587.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,228 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 2,096 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Ready Capital by 79.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,175 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Ready Capital during the 1st quarter valued at about $59,000. Penserra Capital Management LLC bought a new position in Ready Capital during the 3rd quarter valued at about $81,000. Finally, Metropolitan Life Insurance Co NY bought a new position in Ready Capital during the 1st quarter valued at about $90,000. 46.53% of the stock is owned by institutional investors.

Shares of RC traded up $0.03 during mid-day trading on Thursday, hitting $15.85. 350,148 shares of the company’s stock were exchanged, compared to its average volume of 477,412. The firm has a fifty day moving average of $15.37 and a two-hundred day moving average of $15.29. Ready Capital has a twelve month low of $11.28 and a twelve month high of $16.78. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 8.09 and a beta of 1.08. The company has a quick ratio of 1.80, a current ratio of 1.55 and a debt-to-equity ratio of 0.56.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.18. Ready Capital had a net margin of 37.95% and a return on equity of 13.61%. During the same quarter last year, the business posted $0.57 EPS. On average, equities analysts predict that Ready Capital will post 2.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 29th. Shareholders of record on Thursday, September 30th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date was Wednesday, September 29th. Ready Capital’s dividend payout ratio (DPR) is presently 85.71%.

About Ready Capital

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. The company operates in four segments: Acquisitions; SBC Originations; SBA Originations, Acquisitions & Servicing; and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.

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Analyst Recommendations for Ready Capital (NYSE:RC)

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