** Shares of real estate finance firm Ready Capital RC.N slump as much as 31.1%, hitting their lowest since May 2020
** RC cuts Q1 dividend and reports a Q4 adjusted loss, vs a profit a year earlier
** Management says the cut was to preserve capital for reinvestment and buyback of its shares; adds it expects dividend to bottom in Q4
** Piper Sandler cuts PT on RC to $5.50 from $8, a 20.6% downside to last close
** Brokerage continues to expect a tough backdrop for RC as rates remain elevated; adds that it expects the next several quarters to be a "show me" story
** One of nine brokerages rates the stock "buy", seven "hold" and one "sell"; with a median PT of $8, according to data compiled by LSEG
** RC stock down 27.4% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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