Ready Capital (RC) Upgraded to Buy by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Ready Capital (NYSE:RC) from a neutral rating to a buy rating in a research report released on Friday morning, Marketbeat reports. The brokerage currently has $17.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Ready Capital from a strong-buy rating to a hold rating in a research note on Thursday, October 11th. Compass Point lowered shares of Ready Capital from a buy rating to a neutral rating in a report on Thursday, August 9th. Sandler O’Neill restated a hold rating and issued a $17.00 price objective on shares of Ready Capital in a report on Thursday, August 9th. JMP Securities increased their price objective on shares of Ready Capital from $17.00 to $18.00 and gave the company a market outperform rating in a report on Wednesday, August 8th. Finally, Raymond James assumed coverage on shares of Ready Capital in a report on Monday, July 30th. They issued an outperform rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $17.50.

Ready Capital stock traded up $0.35 during trading hours on Friday, hitting $14.91. 162,608 shares of the stock were exchanged, compared to its average volume of 40,523. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $478.86 million, a price-to-earnings ratio of 10.50 and a beta of 0.65. Ready Capital has a 12 month low of $13.55 and a 12 month high of $17.30.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date was Thursday, September 27th. Ready Capital’s dividend payout ratio (DPR) is currently 112.68%.

About Ready Capital

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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