Ready Capital Co. (NYSE:RC - Get Free Report) shares were down 5.7% during trading on Monday . The stock traded as low as $4.23 and last traded at $4.22. Approximately 1,023,031 shares traded hands during trading, a decline of 52% from the average daily volume of 2,130,190 shares. The stock had previously closed at $4.47.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. UBS Group decreased their price target on shares of Ready Capital from $4.75 to $4.50 and set a "neutral" rating on the stock in a research report on Wednesday, May 21st. Wedbush restated a "neutral" rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods decreased their target price on Ready Capital from $4.00 to $3.75 and set an "underperform" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.96.
Read Our Latest Report on RC
Ready Capital Stock Down 1.6%
The stock has a market cap of $716.13 million, a PE ratio of -6.00 and a beta of 1.45. The business has a fifty day moving average of $4.46 and a 200-day moving average of $5.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.
Ready Capital (NYSE:RC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.21). Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. The business had revenue of $40.24 million during the quarter, compared to analysts' expectations of $212.33 million. Equities research analysts anticipate that Ready Capital Co. will post 0.93 earnings per share for the current year.
Insider Transactions at Ready Capital
In other news, insider Adam Zausmer purchased 10,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $5.42 per share, with a total value of $54,200.00. Following the completion of the transaction, the insider now owns 301,105 shares in the company, valued at $1,631,989.10. This represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.
Institutional Investors Weigh In On Ready Capital
Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Ready Capital by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust's stock worth $15,458,000 after purchasing an additional 398,005 shares in the last quarter. Barclays PLC raised its stake in Ready Capital by 205.9% in the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust's stock worth $3,699,000 after acquiring an additional 326,467 shares during the last quarter. Vanguard Group Inc. boosted its position in Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust's stock valued at $77,522,000 after buying an additional 768,891 shares during the last quarter. GraniteShares Advisors LLC purchased a new position in shares of Ready Capital during the fourth quarter worth $2,480,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Ready Capital in the 4th quarter valued at about $1,839,000. Hedge funds and other institutional investors own 55.87% of the company's stock.
Ready Capital Company Profile
(
Get Free Report)
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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