Ready Capital (NYSE:RC) Given New $2.50 Price Target at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its price target decreased by Keefe, Bruyette & Woods from $3.50 to $2.50 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential downside of 12.59% from the company’s previous close.

A number of other analysts have also commented on RC. B. Riley dropped their price target on Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Zacks Research raised Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a report on Wednesday, October 8th. UBS Group reduced their price target on shares of Ready Capital from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $5.10.

Ready Capital Stock Up 5.9%

Ready Capital stock opened at $2.86 on Wednesday. Ready Capital has a fifty-two week low of $2.63 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’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $4.07. The stock has a market cap of $469.98 million, a PE ratio of -1.50 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted its earnings results 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 firm had revenue of ($9.77) million for the quarter. Research analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Ready Capital

Several large investors have recently modified their holdings of RC. Larson Financial Group LLC bought a new stake in shares of Ready Capital in the first quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. grew its stake in Ready Capital by 163.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 3,600 shares in the last quarter. US Bancorp DE raised its holdings in Ready Capital by 404.7% during the 1st quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 4,828 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ready Capital during the first quarter worth $32,000. Finally, Bogart Wealth LLC bought a new position in shares of Ready Capital in the second quarter worth $31,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

About Ready Capital

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.