Ready Capital (NYSE:RC) Price Target Cut to $3.75 by Analysts at Keefe, Bruyette & Woods

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 - Get Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $4.25 to $3.75 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target indicates a potential downside of 3.47% from the stock's previous close.

A number of other research analysts also recently commented on RC. B. Riley lowered their price target on shares of Ready Capital from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday. UBS Group lowered their price target on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.96.

Ready Capital Price Performance

Ready Capital stock traded up $0.11 during mid-day trading on Tuesday, hitting $3.89. The stock had a trading volume of 503,915 shares, compared to its average volume of 2,434,490. The firm has a market capitalization of $662.43 million, a P/E ratio of -2.10 and a beta of 1.47. The company has a current ratio of 1.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.76. The firm's 50 day moving average is $4.39 and its 200 day moving average is $4.92. Ready Capital has a one year low of $3.77 and a one year high of $8.64.

Ready Capital (NYSE:RC - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The firm had revenue of ($9.77) million during the quarter, compared to the consensus estimate of $167.26 million. Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. On average, sell-side analysts forecast that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Ready Capital

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Ready Capital by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,450,959 shares of the real estate investment trust's stock valued at $58,285,000 after acquiring an additional 84,131 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Ready Capital by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,023,581 shares of the real estate investment trust's stock worth $17,585,000 after purchasing an additional 58,899 shares during the period. Invesco Ltd. raised its stake in Ready Capital by 16.1% in the first quarter. Invesco Ltd. now owns 3,618,181 shares of the real estate investment trust's stock worth $18,417,000 after buying an additional 502,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Ready Capital by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,276,719 shares of the real estate investment trust's stock worth $11,588,000 after buying an additional 10,134 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ready Capital by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,018,413 shares of the real estate investment trust's stock worth $13,766,000 after buying an additional 98,895 shares in the last quarter. Institutional investors own 55.87% of the company's stock.

About Ready Capital

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.

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