Ready Capital (RC) Upgraded by Compass Point to Buy

Compass Point upgraded shares of Ready Capital (NYSE:RC) from a neutral rating to a buy rating in a research report released on Friday, The Fly reports.

RC has been the topic of several other research reports. Zacks Investment Research raised Ready Capital from a hold rating to a strong-buy rating and set a $19.00 price objective on the stock in a research report on Wednesday, July 25th. LADENBURG THALM/SH SH started coverage on Ready Capital in a research report on Monday, September 17th. They issued a neutral rating on the stock. JMP Securities upped their price objective on Ready Capital from $17.00 to $18.00 and gave the company a market outperform rating in a research report on Wednesday, August 8th. Raymond James started coverage on Ready Capital in a research report on Monday, July 30th. They issued an outperform rating and a $18.00 price objective on the stock. Finally, ValuEngine downgraded Ready Capital from a hold rating to a sell rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $17.50.

Ready Capital stock traded up $0.35 during mid-day trading on Friday, hitting $14.91. The company’s stock had a trading volume of 162,608 shares, compared to its average volume of 40,523. The company has a market capitalization of $478.86 million, a PE ratio of 10.50 and a beta of 0.65. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.60. Ready Capital has a one year low of $13.55 and a one year high of $17.30.

Ready Capital (NYSE:RC) last announced its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The company had revenue of $34.34 million for the quarter, compared to the consensus estimate of $18.25 million. Ready Capital had a return on equity of 10.41% and a net margin of 31.38%. As a group, research analysts anticipate that Ready Capital will post 1.76 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.73%. The ex-dividend date of this dividend was Thursday, September 27th. Ready Capital’s payout ratio is 112.68%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company. The company acquires, originates, manages, services, and finances small balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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