Ready Capital (RC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Ready Capital (NYSE:RC) from a hold rating to a buy rating in a report released on Wednesday. They currently have $17.00 price target on the real estate investment trust’s stock.

According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “

RC has been the topic of several other reports. LADENBURG THALM/SH SH upgraded Ready Capital from a neutral rating to a buy rating and set a $17.00 target price on the stock in a research report on Friday, November 9th. Compass Point upgraded Ready Capital from a neutral rating to a buy rating in a research report on Friday, November 9th. JMP Securities lifted their target price 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 assumed coverage on Ready Capital in a research report on Monday, July 30th. They set an outperform rating and a $18.00 target price on the stock. Finally, Sandler O’Neill reiterated a hold rating and set a $17.00 target price on shares of Ready Capital in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Ready Capital currently has an average rating of Buy and an average price target of $17.42.

Shares of RC traded down $0.19 during trading hours on Wednesday, hitting $14.41. The stock had a trading volume of 64,477 shares, compared to its average volume of 62,766. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.80 and a quick ratio of 1.80. Ready Capital has a 12 month low of $13.55 and a 12 month high of $17.30. The firm has a market capitalization of $468.47 million, a P/E ratio of 10.15 and a beta of 0.65.

Ready Capital (NYSE:RC) last issued its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.08. Ready Capital had a return on equity of 10.37% and a net margin of 31.38%. The company had revenue of $34.34 million during the quarter, compared to analyst estimates of $18.25 million. Analysts expect that Ready Capital will post 1.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a $0.40 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.60 annualized dividend and a dividend yield of 11.10%. Ready Capital’s payout ratio is 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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