Keefe, Bruyette & Woods Issues Positive Forecast for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC - Get Free Report) had its price objective raised by equities researchers at Keefe, Bruyette & Woods from $3.75 to $4.25 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "underperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price would indicate a potential downside of 4.39% from the company's current price.

Separately, UBS Group lowered their price objective on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Ready Capital presently has a consensus rating of "Hold" and a consensus price target of $7.04.

Ready Capital Stock Performance

Shares of NYSE:RC traded down $0.15 during trading on Thursday, hitting $4.45. 1,664,600 shares of the stock were exchanged, compared to its average volume of 2,181,685. Ready Capital has a 1-year low of $3.93 and a 1-year high of $9.54. The company has a market capitalization of $757.92 million, a price-to-earnings ratio of -2.55 and a beta of 1.43. The company's fifty day simple moving average is $4.41 and its 200-day simple moving average is $5.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.78 and a current ratio of 1.78.

Ready Capital (NYSE:RC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.21). The company had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. Ready Capital had a negative net margin of 34.40% and a positive return on equity of 5.53%. Sell-side analysts expect that Ready Capital will post 0.93 EPS for the current fiscal year.

Institutional Trading of Ready Capital

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Ready Capital by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 1,166,296 shares of the real estate investment trust's stock valued at $7,954,000 after acquiring an additional 76,788 shares during the period. Proficio Capital Partners LLC acquired a new stake in Ready Capital during the fourth quarter worth approximately $69,000. Steward Partners Investment Advisory LLC lifted its position in Ready Capital by 3,075.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 6,150 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock worth $15,458,000 after acquiring an additional 398,005 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Ready Capital during the fourth quarter worth approximately $1,839,000. 55.87% of the stock is owned by institutional investors and hedge funds.

Ready Capital Company Profile

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.