Key Points
- Director Gilbert Nathan purchased 30,000 shares of Ready Capital on March 6 at an average price of $1.95 (total ~$58,500), raising his holdings to 216,358 shares — a 16.1% increase, disclosed in an SEC filing.
- Ready Capital beat the quarter's EPS estimate (reported -$0.09 vs. -$0.11) and posted revenue of $207.6M versus a $133.5M estimate, but still shows weak profitability with a negative ROE (-10.29%) and net margin (-39.55%).
- The stock is trading near its 12‑month low with a market cap of about $304M, the company recently cut its dividend to $0.01 quarterly, and analysts' consensus is a "Reduce" rating with an average price target of $2.81.
Ready Capital Corp (NYSE:RC - Get Free Report) Director Gilbert Nathan acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average price of $2.02 per share, for a total transaction of $20,200.00. Following the purchase, the director owned 128,106 shares of the company's stock, valued at $258,774.12. This trade represents a 8.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ready Capital Stock Down 2.9%
NYSE:RC opened at $1.87 on Tuesday. The firm has a market capitalization of $303.77 million, a PE ratio of -1.27 and a beta of 1.45. Ready Capital Corp has a 52 week low of $1.55 and a 52 week high of $5.48. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average of $2.02 and a 200-day moving average of $2.81.
Ready Capital (NYSE:RC - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $207.55 million during the quarter, compared to analyst estimates of $133.50 million. Ready Capital had a negative return on equity of 10.29% and a negative net margin of 39.55%. Analysts predict that Ready Capital Corp will post 0.93 EPS for the current year.
Ready Capital Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 2.1%. Ready Capital's payout ratio is -2.72%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of RC. Nomura Asset Management Co. Ltd. raised its stake in shares of Ready Capital by 163.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 3,600 shares in the last quarter. Huntington National Bank grew its position in Ready Capital by 234.6% in the 3rd quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 6,134 shares in the last quarter. Quarry LP grew its position in Ready Capital by 4,494.6% in the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 9,169 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new position in Ready Capital during the 3rd quarter valued at about $39,000. Finally, Franklin Resources Inc. acquired a new position in Ready Capital during the 3rd quarter valued at about $44,000. 55.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
RC has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of Ready Capital from $3.50 to $2.75 and set a "neutral" rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods reduced their target price on shares of Ready Capital from $3.50 to $2.50 and set an "underperform" rating for the company in a research note on Wednesday, November 12th. Piper Sandler dropped their price target on shares of Ready Capital from $2.50 to $2.00 and set a "neutral" rating on the stock in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Ready Capital in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $2.81.
Get Our Latest Report on RC
Ready Capital Company Profile
(
Get Free Report)
Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.
Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.
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