Ready Capital (NYSE:RC) Rating Increased to Hold at UBS Group

Key Points

• UBS Group upgraded Ready Capital to a Hold rating, adding to a mixed analyst backdrop for the stock.
• Other firms remain cautious: Zacks Research cut RC to Strong Sell, while Weiss Ratings reaffirmed a Sell rating. Overall, MarketBeat shows an average rating of Reduce with a target price of $2.62.
• Ready Capital’s fundamentals remain under pressure, with the stock trading near its 52-week low at $1.55 and the latest quarter showing an EPS miss despite revenue coming in above estimates.

Ready Capital (NYSE:RC - Get Free Report) was upgraded by UBS Group to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on RC. Zacks Research lowered shares of Ready Capital from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Ready Capital in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $2.62.

Ready Capital Stock Performance

Ready Capital stock opened at $1.55 on Thursday. The stock has a 50-day simple moving average of $1.72 and a 200 day simple moving average of $1.83. The stock has a market capitalization of $256.92 million, a price-to-earnings ratio of -0.49 and a beta of 1.43. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.95. Ready Capital has a 12-month low of $1.50 and a 12-month high of $4.58.

Ready Capital (NYSE:RC - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.18). The company had revenue of $130.55 million for the quarter, compared to the consensus estimate of $68.67 million. Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%. On average, research analysts anticipate that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ready Capital

Several large investors have recently bought and sold shares of the business. UBS Group AG increased its holdings in Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust's stock valued at $6,879,000 after purchasing an additional 1,948,208 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Ready Capital in the fourth quarter valued at about $27,000. Samalin Investment Counsel LLC boosted its holdings in Ready Capital by 52.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust's stock worth $40,000 after buying an additional 6,221 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in Ready Capital during the fourth quarter worth about $99,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Ready Capital by 135.1% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,410 shares of the real estate investment trust's stock worth $180,000 after buying an additional 47,350 shares during the period. 55.87% of the stock is currently owned by institutional investors and hedge funds.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.

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