Ready Capital Co. Declares Quarterly Dividend of $0.13 (NYSE:RC)

Ready Capital Co. (NYSE:RC) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.125 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.50 annualized dividend and a yield of 9.88%.

Ready Capital has decreased its dividend by an average of 16.4% per year over the last three years. Ready Capital has a payout ratio of 105.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Ready Capital to earn $1.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 95.2%.

Ready Capital Trading Down 27.0 %

Shares of NYSE:RC opened at $5.06 on Tuesday. Ready Capital has a 52-week low of $4.78 and a 52-week high of $9.53. The company has a market capitalization of $852.77 million, a P/E ratio of -7.23 and a beta of 1.43. The company has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $7.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Analysts Set New Price Targets

RC has been the subject of several research reports. JMP Securities cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday. B. Riley reaffirmed a “neutral” rating and set a $10.00 target price (down from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. UBS Group lowered their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.61.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.