Ready Capital Co. Plans Quarterly Dividend of $0.13 (NYSE:RC)

Ready Capital Co. (NYSE:RC) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.125 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.50 annualized dividend and a dividend yield of 7.20%.

Ready Capital has decreased its dividend payment by an average of 16.4% per year over the last three years. Ready Capital has a payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 95.2%.

Ready Capital Trading Up 2.1 %

Shares of Ready Capital stock opened at $6.95 on Monday. The stock has a 50 day moving average of $6.83 and a 200 day moving average of $7.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.92 and a beta of 1.43. Ready Capital has a fifty-two week low of $6.39 and a fifty-two week high of $9.53.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Monday, March 3rd. The real estate investment trust reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. As a group, research analysts predict that Ready Capital will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. UBS Group cut their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Finally, B. Riley reiterated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Ready Capital has an average rating of “Hold” and an average price target of $8.61.

Ready Capital Company Profile

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.