UBS Group Cuts Ready Capital (NYSE:RC) Price Target to $2.75

Ready Capital (NYSE:RC) had its price target decreased by UBS Group from $3.50 to $2.75 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s target price suggests a potential upside of 3.19% from the company’s current price.

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

Ready Capital Stock Down 0.2%

Shares of Ready Capital stock traded down $0.01 on Friday, reaching $2.67. 1,224,701 shares of the company were exchanged, compared to its average volume of 2,443,704. Ready Capital has a one year low of $2.62 and a one year high of $7.64. The company has a market capitalization of $432.08 million, a price-to-earnings ratio of -1.40 and a beta of 1.45. The company has a current ratio of 1.56, a quick ratio of 1.61 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $3.56 and a 200 day moving average of $4.05.

Ready Capital (NYSE:RC) last released its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) earnings per share 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, equities research analysts forecast that Ready Capital will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ready Capital by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 2,606 shares during the period. CW Advisors LLC lifted its position in Ready Capital by 11.6% during the second quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 2,878 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Ready Capital by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 2,905 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Ready Capital by 29.0% during the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Ready Capital by 163.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 3,600 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

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.