Ready Capital (NYSE:RC) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Ready Capital Corp (NYSE:RCGet Free Report)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.35 and traded as low as $3.56. Ready Capital shares last traded at $3.57, with a volume of 3,489,876 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a research report on Saturday, September 27th. UBS Group lowered their price objective on Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Wall Street Zen cut Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $4.25 to $3.75 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Finally, B. Riley lowered their target price on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.45.

Read Our Latest Analysis on Ready Capital

Ready Capital Price Performance

The company’s 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $4.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $586.66 million, a P/E ratio of -1.93 and a beta of 1.45.

Ready Capital (NYSE:RCGet Free Report) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). The business had revenue of ($9.77) million for the quarter, compared to the consensus estimate of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. As a group, equities analysts expect that Ready Capital Corp will post 0.93 EPS for the current fiscal year.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 14.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Ready Capital’s dividend payout ratio is -27.03%.

Institutional Investors Weigh In On Ready Capital

Several hedge funds and other institutional investors have recently made changes to their positions in RC. Illinois Municipal Retirement Fund boosted its holdings in Ready Capital by 27.6% in the first quarter. Illinois Municipal Retirement Fund now owns 116,462 shares of the real estate investment trust’s stock valued at $593,000 after acquiring an additional 25,198 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Ready Capital by 14.3% in the 1st quarter. Sowell Financial Services LLC now owns 52,763 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 6,591 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Ready Capital by 40.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 79,072 shares of the real estate investment trust’s stock worth $402,000 after buying an additional 22,797 shares during the period. Sound Income Strategies LLC raised its stake in shares of Ready Capital by 9,654.5% during the first quarter. Sound Income Strategies LLC now owns 60,478 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 59,858 shares during the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in Ready Capital by 152.5% in the first quarter. Wolverine Asset Management LLC now owns 555,556 shares of the real estate investment trust’s stock valued at $2,828,000 after buying an additional 335,502 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.

About Ready Capital

(Get Free Report)

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.

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