Ready Capital (NYSE:RC) Price Target Lowered to $4.50 at UBS Group

Ready Capital (NYSE:RC - Get Free Report) had its price objective decreased by equities researchers at UBS Group from $4.75 to $4.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective would suggest a potential upside of 3.09% from the company's current price.

Several other equities research analysts have also recently commented on RC. Wedbush reaffirmed a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Keefe, Bruyette & Woods reduced their price target on Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Citizens Jmp lowered Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Ready Capital presently has an average rating of "Hold" and an average price target of $6.96.

Ready Capital Trading Down 0.8%

RC traded down $0.04 during midday trading on Wednesday, reaching $4.37. 341,684 shares of the company's stock traded hands, compared to its average volume of 2,712,953. Ready Capital has a 52 week low of $3.92 and a 52 week high of $9.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The firm has a fifty day moving average of $4.62 and a two-hundred day moving average of $6.06. The stock has a market capitalization of $744.26 million, a price-to-earnings ratio of -6.24 and a beta of 1.45.

Ready Capital (NYSE:RC - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.21). The business had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. On average, equities analysts anticipate that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ready Capital news, CEO Thomas E. Capasse acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $4.80 per share, with a total value of $48,000.00. Following the transaction, the chief executive officer now owns 319,925 shares of the company's stock, valued at $1,535,640. The trade was a 3.23% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ready Capital

Several hedge funds and other institutional investors have recently bought and sold shares of RC. Barclays PLC raised its holdings in shares of Ready Capital by 205.9% during the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock valued at $3,699,000 after purchasing an additional 326,467 shares during the last quarter. Mutual Advisors LLC raised its stake in Ready Capital by 4.7% during the 4th quarter. Mutual Advisors LLC now owns 109,993 shares of the real estate investment trust's stock valued at $742,000 after buying an additional 4,891 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Ready Capital during the 4th quarter valued at $142,000. Avion Wealth purchased a new position in shares of Ready Capital in the 4th quarter worth $47,000. Finally, Van ECK Associates Corp boosted its stake in shares of Ready Capital by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 1,540,765 shares of the real estate investment trust's stock worth $10,508,000 after buying an additional 174,725 shares during 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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