According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “
Separately, ValuEngine cut Ready Capital from a hold rating to a sell rating in a research report on Saturday, April 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Ready Capital currently has a consensus rating of Hold and an average price target of $17.14.
Shares of NYSE RC traded down $0.12 during trading hours on Wednesday, reaching $14.85. The stock had a trading volume of 13,183 shares, compared to its average volume of 241,199. The stock has a market cap of $477.13 million, a PE ratio of 8.44 and a beta of 0.78. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.60. Ready Capital has a fifty-two week low of $13.44 and a fifty-two week high of $17.30.
Ready Capital (NYSE:RC) last announced its earnings results on Tuesday, March 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). The firm had revenue of $14.96 million during the quarter, compared to analyst estimates of $16.78 million. Ready Capital had a net margin of 28.04% and a return on equity of 10.25%. Sell-side analysts anticipate that Ready Capital will post 1.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 10.77%. Ready Capital’s payout ratio is 90.91%.
Institutional investors have recently bought and sold shares of the business. Sharkey Howes & Javer acquired a new stake in Ready Capital during the 1st quarter worth approximately $227,000. Gemmer Asset Management LLC acquired a new stake in Ready Capital during the 1st quarter worth approximately $40,000. Strs Ohio acquired a new stake in Ready Capital during the 1st quarter worth approximately $71,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Ready Capital during the 1st quarter worth approximately $29,000. 35.21% of the stock is owned by institutional investors.
About Ready Capital
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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