Ready Capital Corp (NYSE:RC) announced a quarterly dividend on Tuesday, June 11th, NASDAQ reports. Investors of record on Friday, June 28th will be given a dividend of 0.40 per share by the real estate investment trust on Wednesday, July 31st. This represents a $1.60 annualized dividend and a yield of 10.57%. The ex-dividend date is Thursday, June 27th.

Ready Capital has a dividend payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Ready Capital to earn $1.83 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 87.4%.

NYSE RC traded up $0.03 during mid-day trading on Tuesday, hitting $15.14. The company’s stock had a trading volume of 1,807 shares, compared to its average volume of 203,175. The firm’s 50 day moving average price is $14.84. Ready Capital has a twelve month low of $13.44 and a twelve month high of $17.30. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $668.15 million, a price-to-earnings ratio of 8.61 and a beta of 0.77.

Ready Capital (NYSE:RC) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.08). Ready Capital had a net margin of 31.79% and a return on equity of 8.73%. The business had revenue of $12.98 million during the quarter, compared to analyst estimates of $15.00 million. On average, analysts predict that Ready Capital will post 1.59 earnings per share for the current fiscal year.

In related news, Director Todd M. Sinai purchased 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average cost of $14.74 per share, with a total value of $51,590.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.83% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on RC shares. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. ValuEngine downgraded shares of Ready Capital from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.08.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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Dividend History for Ready Capital (NYSE:RC)

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