Keefe, Bruyette & Woods Lowers Ready Capital (NYSE:RC) Price Target to $3.75

Key Points

• Ready Capital's price target was cut from $4.25 to $3.75 by Keefe, Bruyette & Woods, maintaining an "underperform" rating, indicating a potential downside of 3.47% from its previous close.
• Other analysts like B. Riley and UBS Group have also lowered their price targets for Ready Capital, reinforcing a consensus rating of "Hold" with an average price target of $5.96.
• The stock's recent performance shows it traded at $3.89, with the one-year low standing at $3.77 and a high of $8.64, suggesting significant volatility over the past year.

Ready Capital (NYSE:RC - Free Report) had its price target reduced by Keefe, Bruyette & Woods from $4.25 to $3.75 in a research note released on Tuesday,Benzinga reports. They currently have an underperform rating on the real estate investment trust's stock.

A number of other research analysts also recently issued reports on the stock. B. Riley dropped their price target on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. 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 note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Ready Capital has an average rating of "Hold" and an average target price of $5.96.

Ready Capital Trading Down 1.0%

NYSE:RC traded down $0.04 during mid-day trading on Tuesday, hitting $3.82. 1,486,661 shares of the company's stock were exchanged, compared to its average volume of 2,046,011. The company has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $4.86. The company has a current ratio of 1.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.76. Ready Capital has a fifty-two week low of $3.77 and a fifty-two week high of $8.64. The firm has a market capitalization of $627.73 million, a P/E ratio of -2.06 and a beta of 1.47.

Ready Capital (NYSE:RC - Get Free Report) last posted its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of ($9.77) million for the quarter, compared to analyst estimates of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. As a group, research analysts expect that Ready Capital will post 0.93 earnings per share for the current year.

Ready Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 13.1%. The ex-dividend date was Monday, June 30th. Ready Capital's payout ratio is -27.03%.

Institutional Trading of Ready Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Shorepoint Capital Partners LLC grew its stake in shares of Ready Capital by 2.4% in the 4th quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust's stock worth $440,000 after acquiring an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ready Capital by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 2,606 shares in the last quarter. CW Advisors LLC grew its stake in shares of Ready Capital by 11.6% in the 2nd quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust's stock worth $121,000 after acquiring an additional 2,878 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Ready Capital by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust's stock worth $369,000 after acquiring an additional 2,905 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Ready Capital by 29.0% in the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust's stock worth $67,000 after acquiring an additional 3,419 shares in the last quarter. Institutional investors own 55.87% of the company's stock.

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.