Ready Capital (NYSE:RC) Lowered to “Neutral” at Compass Point

Compass Point downgraded shares of Ready Capital (NYSE:RC) from a buy rating to a neutral rating in a report released on Friday morning, Briefing.com Automated Import reports. Compass Point currently has $16.50 target price on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on RC. TheStreet raised shares of Ready Capital from a c rating to a b- rating in a research note on Wednesday, August 14th. Cantor Fitzgerald decreased their target price on shares of Ready Capital from $17.00 to $16.50 and set a market outperform rating for the company in a research note on Tuesday, September 3rd. Finally, Zacks Investment Research lowered shares of Ready Capital from a buy rating to a hold rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $16.63.

Ready Capital stock traded down $0.26 during midday trading on Friday, reaching $15.86. The stock had a trading volume of 151,952 shares, compared to its average volume of 168,587. The firm’s fifty day simple moving average is $16.00 and its two-hundred day simple moving average is $15.21. Ready Capital has a twelve month low of $13.44 and a twelve month high of $16.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $727.01 million, a price-to-earnings ratio of 9.01 and a beta of 0.68.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ready Capital had a return on equity of 8.40% and a net margin of 30.47%. The firm had revenue of $20.33 million during the quarter, compared to analyst estimates of $20.75 million. As a group, sell-side analysts predict that Ready Capital will post 1.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date was Friday, September 27th. Ready Capital’s dividend payout ratio (DPR) is currently 90.91%.

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ready Capital by 561.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,626 shares during the period. Bank of Montreal Can boosted its stake in shares of Ready Capital by 189.6% during the 2nd quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 2,624 shares during the period. Motco acquired a new stake in shares of Ready Capital during the 2nd quarter valued at $65,000. BNP Paribas Arbitrage SA bought a new position in shares of Ready Capital during the 2nd quarter valued at $68,000. Finally, Synovus Financial Corp raised its holdings in shares of Ready Capital by 11.9% during the 3rd quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 629 shares in the last quarter. 37.72% 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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