Ready Capital (NYSE:RC – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $2.81.
View Our Latest Stock Report on RC
Ready Capital Stock Performance
Ready Capital (NYSE:RC – Get Free Report) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. The firm had revenue of $130.55 million for the quarter, compared to the consensus estimate of $68.67 million. As a group, equities analysts anticipate that Ready Capital will post -0.94 earnings per share for the current fiscal year.
Institutional Trading of Ready Capital
Several institutional investors have recently added to or reduced their stakes in the company. Quantum Portfolio Management LLC purchased a new position in shares of Ready Capital during the first quarter valued at approximately $84,956,000. Private Management Group Inc. raised its holdings in shares of Ready Capital by 197.0% in the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock worth $10,477,000 after buying an additional 3,188,135 shares during the period. Invesco Ltd. lifted its stake in shares of Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after acquiring an additional 742,226 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ready Capital by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 3,725,675 shares of the real estate investment trust’s stock valued at $8,123,000 after acquiring an additional 53,592 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Ready Capital by 14.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,249,324 shares of the real estate investment trust’s stock valued at $7,084,000 after acquiring an additional 402,173 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.
Ready Capital Company Profile
Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.
Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.
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