BTIG Research Lowers Ready Capital (NYSE:RC) Price Target to $10.00

Ready Capital (NYSE:RC - Free Report) had its target price trimmed by BTIG Research from $12.00 to $10.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the real estate investment trust's stock.

Several other research analysts have also weighed in on RC. UBS Group dropped their target price on Ready Capital from $10.50 to $9.50 and set a neutral rating on the stock in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reaffirmed an underperform rating and issued a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. B. Riley reaffirmed a buy rating and issued a $12.00 target price (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, StockNews.com lowered Ready Capital from a buy rating to a hold rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $10.93.

Ready Capital Stock Up 1.7 %

RC stock traded up $0.14 during mid-day trading on Wednesday, hitting $8.47. The stock had a trading volume of 1,488,985 shares, compared to its average volume of 1,450,024. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. Ready Capital has a 1-year low of $8.25 and a 1-year high of $11.97. The company has a fifty day moving average of $8.85 and a 200 day moving average of $9.63. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 3.62 and a beta of 1.40.

Ready Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.20 annualized dividend and a dividend yield of 14.17%. Ready Capital's dividend payout ratio (DPR) is presently 51.28%.

Insider Activity at Ready Capital

In other Ready Capital news, Director Kevin M. Luebbers bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the purchase, the director now directly owns 119,925 shares in the company, valued at $1,010,967.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Ready Capital news, Director Kevin M. Luebbers bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the purchase, the director now directly owns 119,925 shares in the company, valued at $1,010,967.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert E. Nathan bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the purchase, the director now owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. Insiders acquired a total of 17,150 shares of company stock worth $148,280 in the last 90 days. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ready Capital

A number of hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC raised its holdings in shares of Ready Capital by 4.0% in the 4th quarter. Pathstone Family Office LLC now owns 21,232 shares of the real estate investment trust's stock worth $237,000 after buying an additional 811 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Ready Capital by 8.8% during the 4th quarter. Teacher Retirement System of Texas now owns 11,383 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 918 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Ready Capital by 8.0% during the 4th quarter. CIBC Asset Management Inc now owns 12,560 shares of the real estate investment trust's stock valued at $140,000 after purchasing an additional 935 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Ready Capital by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,796 shares of the real estate investment trust's stock valued at $119,000 after purchasing an additional 1,007 shares in the last quarter. Finally, American International Group Inc. increased its holdings in Ready Capital by 2.8% during the 2nd quarter. American International Group Inc. now owns 39,633 shares of the real estate investment trust's stock valued at $472,000 after purchasing an additional 1,090 shares in the last quarter. 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.