Ready Capital Corp (RC) To Go Ex-Dividend on June 30th

Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Monday, June 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.01 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Ready Capital has decreased its dividend by an average of 0.2%per year over the last three years. Ready Capital has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ready Capital to earn ($0.38) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -10.5%.

Ready Capital Trading Down 2.0%

NYSE:RC opened at $1.69 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $278.39 million, a price-to-earnings ratio of -0.53 and a beta of 1.44. Ready Capital has a 52 week low of $1.50 and a 52 week high of $4.75. The firm has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $1.94.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.18). Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. The firm had revenue of $130.55 million during the quarter, compared to analysts’ expectations of $68.67 million. On average, equities analysts expect that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RC. Piper Sandler decreased their price target on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Ready Capital presently has a consensus rating of “Reduce” and an average target price of $2.81.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.