Ready Capital (NYSE:RC) Price Target Cut to $2.75 by Analysts at UBS Group

by · The Cerbat Gem

Ready Capital (NYSE:RC – Free Report) had its price target cut by UBS Group from $3.50 to $2.75 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

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

Read Our Latest Stock Report on RC

Ready Capital Price Performance

Shares of Ready Capital stock traded down $0.02 during mid-day trading on Friday, reaching $2.66. 2,761,030 shares of the stock were exchanged, compared to its average volume of 2,790,361. Ready Capital has a fifty-two week low of $2.62 and a fifty-two week high of $7.64. The company has a market cap of $430.44 million, a price-to-earnings ratio of -1.39 and a beta of 1.45. The firm has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $4.03. The company has a current ratio of 1.56, a quick ratio of 1.61 and a debt-to-equity ratio of 0.79.

Ready Capital (NYSE:RC – Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. The firm had revenue of ($9.77) million during the quarter. Ready Capital had a negative net margin of 47.30% and a negative return on equity of 7.02%. On average, sell-side analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 18.8%. The ex-dividend date of this dividend was Tuesday, September 30th. Ready Capital’s payout ratio is -26.18%.

Hedge Funds Weigh In On Ready Capital

Several hedge funds and other institutional investors have recently made changes to their positions in RC. Private Management Group Inc. acquired a new position in shares of Ready Capital during the 1st quarter worth $8,235,000. Marshall Wace LLP bought a new position in Ready Capital in the 2nd quarter valued at approximately $6,542,000. Nexpoint Asset Management L.P. acquired a new stake in Ready Capital in the first quarter valued at approximately $4,444,000. Invesco Ltd. grew its stake in shares of Ready Capital by 21.2% during the third quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after buying an additional 742,226 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Ready Capital by 773.7% in the 1st quarter. Voya Investment Management LLC now owns 443,692 shares of the real estate investment trust’s stock valued at $2,258,000 after acquiring an additional 392,911 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors and hedge funds.

About Ready Capital

(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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