UBS Group Issues Pessimistic Forecast for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its price objective lowered by UBS Group from $2.00 to $1.25 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s target price would indicate a potential upside of 42.69% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research note on Friday, August 28th. Piper Sandler cut their price objective on shares of Ready Capital from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on Ready Capital from $1.40 to $1.25 and set an “underperform” rating for the company in a research note on Friday, October 9th. Finally, Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $1.17.

Ready Capital Stock Down 5.8%

Shares of Ready Capital stock traded down $0.05 during trading on Thursday, reaching $0.88. 185,066 shares of the company traded hands, compared to its average volume of 1,920,789. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.88 and a quick ratio of 1.91. Ready Capital has a 1-year low of $0.83 and a 1-year high of $2.80. The company has a 50 day moving average price of $1.29 and a 200-day moving average price of $1.64. The firm has a market capitalization of $140.36 million, a PE ratio of -0.23 and a beta of 1.55.

Ready Capital (NYSE:RC) last issued its earnings results on Thursday, November 5th. The real estate investment trust reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.11). The company had revenue of $25.33 million for the quarter, compared to the consensus estimate of $23.10 million. Ready Capital had a negative return on equity of 9.25% and a negative net margin of 163.95%. As a group, equities research analysts expect that Ready Capital will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ready Capital

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in Ready Capital in the 3rd quarter valued at $114,000. Ground Swell Capital LLC bought a new stake in Ready Capital during the 3rd quarter valued at $105,000. Private Management Group Inc. increased its stake in Ready Capital by 3.0% during the 3rd quarter. Private Management Group Inc. now owns 8,168,443 shares of the real estate investment trust’s stock valued at $9,475,000 after purchasing an additional 235,922 shares in the last quarter. HB Wealth Management LLC raised its holdings in Ready Capital by 44.2% during the second quarter. HB Wealth Management LLC now owns 18,951 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 5,812 shares during the last quarter. Finally, OceanIQ Capital LLC acquired a new position in Ready Capital during the second quarter worth $109,000. 55.87% of the stock is currently owned by institutional investors.

About Ready Capital

Ready Capital Corporation is a real estate finance company focused on commercial real estate lending. It originates, acquires, finances and services loans secured by commercial properties, including bridge and construction loans for property owners and investors. The company also invests in commercial real estate-related assets and provides financing through programs such as Small Business Administration lending. Its activities serve borrowers and property owners across the United States. Ready Capital is externally managed by Waterfall Asset Management and trades on the New York Stock Exchange under the symbol RC.