Ready Capital Co. (NYSE:RC) – Investment analysts at Piper Sandler dropped their Q1 2021 earnings per share (EPS) estimates for shares of Ready Capital in a research report issued to clients and investors on Monday, April 12th. Piper Sandler analyst C. Love now expects that the real estate investment trust will post earnings per share of $0.46 for the quarter, down from their previous estimate of $0.47. Piper Sandler also issued estimates for Ready Capital’s Q2 2021 earnings at $0.38 EPS, Q3 2021 earnings at $0.30 EPS, FY2021 earnings at $1.41 EPS and Q1 2022 earnings at $0.34 EPS.
Ready Capital (NYSE:RC) last posted its quarterly earnings results on Wednesday, March 10th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.10. Ready Capital had a return on equity of 11.15% and a net margin of 14.86%.
RC opened at $14.06 on Wednesday. The company’s 50-day moving average price is $13.85 and its 200 day moving average price is $12.66. Ready Capital has a fifty-two week low of $4.32 and a fifty-two week high of $15.48. The firm has a market cap of $765.36 million, a price-to-earnings ratio of 20.09 and a beta of 1.08. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Monday, April 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, April 1st. Ready Capital’s dividend payout ratio is presently 25.97%.
A number of hedge funds and other institutional investors have recently bought and sold shares of RC. Van ECK Associates Corp bought a new stake in Ready Capital during the third quarter worth $2,862,000. JPMorgan Chase & Co. raised its position in Ready Capital by 118.3% during the fourth quarter. JPMorgan Chase & Co. now owns 311,299 shares of the real estate investment trust’s stock worth $3,876,000 after acquiring an additional 168,700 shares in the last quarter. BlackRock Inc. raised its position in shares of Ready Capital by 2.1% in the fourth quarter. BlackRock Inc. now owns 7,433,048 shares of the real estate investment trust’s stock valued at $92,540,000 after purchasing an additional 152,116 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Ready Capital in the third quarter valued at about $1,295,000. Finally, Matarin Capital Management LLC bought a new position in shares of Ready Capital in the third quarter valued at about $989,000. 45.84% of the stock is currently owned by hedge funds and other institutional investors.
Ready Capital Company Profile
Ready Capital Corporation, together with its subsidiaries, 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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