Analysts issue forecast for Ready Capital Co.’s earnings in the second quarter of 2022 (NYSE:RC)
Ready Capital Co. (NYSE: RC – Get a rating) – Equity analysts B. Riley released their second quarter 2022 EPS estimates for Ready Capital in a research report delivered to clients and investors on Tuesday, August 2. B. Riley analyst M. Howlett expects the real estate investment trust to post earnings of $0.48 per share for the quarter. Ready Capital’s current annual earnings consensus estimate is $1.89 per share. B. Riley also released estimates of Ready Capital’s Q3 2022 earnings at $0.49 EPS, Q4 2022 earnings at $0.50 EPS, and fiscal year 2022 earnings at $2.00 EPS.
Separately, Piper Sandler cut her price target on shares of Ready Capital from $16.00 to $14.00 and set a “neutral” rating on the stock in a Tuesday, June 28 report.
Loan capital price performance
NYSE RC opened at $13.58 on Friday. The company’s fifty-day simple moving average is $12.95 and its two-hundred-day simple moving average is $14.15. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt ratio of 0.49. Ready Capital has a 12-month low of $11.05 and a 12-month high of $16.56. The company has a market capitalization of $1.14 billion, a P/E ratio of 5.85 and a beta of 1.13.
Ready Capital announces a dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Thursday, June 30 received a dividend of $0.42 per share. This represents a dividend of $1.68 on an annualized basis and a dividend yield of 12.37%. The ex-dividend date was Wednesday, June 29. Ready Capital’s dividend payout ratio (DPR) is currently 72.41%.
Institutional investors weigh in on Ready Capital
A number of large investors have recently changed their positions in RC. Allspring Global Investments Holdings LLC purchased a new equity stake in Ready Capital during the fourth quarter at a value of $1,233,000. Yousif Capital Management LLC purchased a new equity stake in Ready Capital during the fourth quarter at a value of $826,000. Qube Research & Technologies Ltd purchased a new equity stake from Ready Capital during the fourth quarter at a value of $723,000. Zurcher Kantonalbank Zurich Cantonalbank increased its equity stake in Ready Capital by 160.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,548 shares of the real estate investment trust worth $212,000 after buying 8,338 additional shares in the last quarter. Finally, Northern Trust Corp increased its position in Ready Capital by 0.7% during the fourth quarter. Northern Trust Corp now owns 1,079,840 shares of the real estate investment trust valued at $16,878,000 after purchasing an additional 7,673 shares during the period. 41.03% of the shares are held by hedge funds and other institutional investors.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services and funds low-to-medium balance commercial loans (SBCs), small business administration loans (SBAs), residential mortgage loans and mortgage-backed securities secured primarily by SBC loans or other real estate. investments.
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