Ready Capital Corporation (NYSE: RC) stock fell -1.77% on Thursday to $10.52 against a previous-day closing price of $10.71. With 1.32 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.61 million shares. During the session, the REIT – Mortgage company that operates in wider Real Estate sector, reached to the highest price of $10.68 whereas the lowest price it dropped to was $10.41. The 52-week range on RC shows that it touched its highest point at $14.11 and its lowest point at $9.36 during that stretch. It currently has a 1-year price target of $12.69. With its current market cap of 1.18 billion, RC has annualized dividend of $1.04 while the current yield stands at 9.89%. Beta for the stock currently stands at 1.41.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RC was down-trending over the past week, with a drop of -2.77%, but this was up by 1.84% over a month. Three-month performance dropped to -15.84% while six-month performance fell -20.00%. The stock lost -23.32% in the past year, while it has lost -5.57% so far this year. A look at the trailing 12-month EPS for RC yields 1.34 with Next year EPS estimates of 1.61. For the next quarter, that number is 0.39. This implies an EPS growth rate of -19.50% for this year and 6.70% for next year. EPS is expected to grow by 14.21% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 4.10%.
Float and Shares Shorts:
At present, 110.67 million RC shares are outstanding with a float of 109.33 million shares on hand for trading. On May 14, 2023, short shares totaled 8.7 million, which was 7.86% higher than short shares on Apr 13, 2023. In addition to Mr. Andrew Ahlborn CPA as the firm’s CFO & Sec., Mr. Gary T. Taylor serves as its Chief Operating Officer.
Institutional Ownership:
Through their ownership of 62.78% of RC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.08% of RC, in contrast to 29.14% held by mutual funds. Shares owned by individuals account for 11.83%. As the largest shareholder in RC with 13.33% of the stake, BlackRock Fund Advisors holds 14,756,328 shares worth 14,756,328. A second-largest stockholder of RC, Waterfall Asset Management LLC, holds 11,431,049 shares, controlling over 10.32% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in RC, holding 6,313,161 shares or 5.70% stake. With a 6.45% stake in RC, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 7,138,693 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.77% of RC stock, is the second-largest Mutual Fund holder. It holds 3,069,227 shares valued at 32.93 million. iShares Russell 2000 ETF holds 1.37% of the stake in RC, owning 1,516,312 shares worth 16.27 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RC analysts setting a high price target of $15.00 and a low target of $10.50, the average target price over the next 12 months is $12.63. Based on these targets, RC could surge 42.59% to reach the target high and fall by -0.19% to reach the target low. Reaching the average price target will result in a growth of 20.06% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RC stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 16,341 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 162,636 while 1,788,428 shares were sold.
