Ready Capital (NYSE:RC) Given New $2.75 Price Target at UBS Group

Ready Capital (NYSE:RC) had its price objective cut by investment analysts at UBS Group from $3.50 to $2.75 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 3.19% from the stock’s current price.

A number of other analysts have also recently commented on the company. Keefe, Bruyette & Woods lowered their price target on Ready Capital from $3.50 to $2.50 and set an “underperform” rating for the company in a research note on Wednesday. Wall Street Zen downgraded shares of Ready Capital from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ready Capital in a report on Wednesday, October 8th. B. Riley lowered their price objective on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Finally, Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $4.95.

Ready Capital Trading Down 0.2%

RC traded down $0.01 during trading on Friday, reaching $2.67. 1,224,701 shares of the company’s stock were exchanged, compared to its average volume of 2,443,704. Ready Capital has a fifty-two week low of $2.62 and a fifty-two week high of $7.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.61 and a current ratio of 1.56. The firm has a market capitalization of $432.08 million, a PE ratio of -1.40 and a beta of 1.45. The company’s fifty day moving average price is $3.56 and its 200-day moving average price is $4.05.

Ready Capital (NYSE:RC) last announced its quarterly earnings data on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. Ready Capital had a negative return on equity of 7.02% and a negative net margin of 47.30%.The company had revenue of ($9.77) million for the quarter. As a group, equities analysts forecast that Ready Capital will post 0.93 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RC. Teacher Retirement System of Texas bought a new stake in Ready Capital in the 1st quarter valued at approximately $119,000. Principal Financial Group Inc. lifted its position in shares of Ready Capital by 2.7% in the first quarter. Principal Financial Group Inc. now owns 838,879 shares of the real estate investment trust’s stock worth $4,270,000 after purchasing an additional 21,937 shares in the last quarter. Bank of New York Mellon Corp grew its position in Ready Capital by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 1,338,493 shares of the real estate investment trust’s stock valued at $6,813,000 after purchasing an additional 172,197 shares in the last quarter. Cerity Partners LLC acquired a new stake in Ready Capital in the 1st quarter valued at $60,000. Finally, CWM LLC increased its stake in Ready Capital by 3,355.7% in the 1st quarter. CWM LLC now owns 107,886 shares of the real estate investment trust’s stock valued at $549,000 after buying an additional 104,764 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

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.