Keefe, Bruyette & Woods Cuts Ready Capital (NYSE:RC) Price Target to $4.00

Ready Capital (NYSE:RC) had its target price cut by analysts at Keefe, Bruyette & Woods from $6.25 to $4.00 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 suggest a potential downside of 17.78% from the stock’s current price.

Several other equities research analysts have also weighed in on RC. Citizens Jmp lowered Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday. UBS Group decreased their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. JMP Securities decreased their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $6.00 price target (down from $8.00) on shares of Ready Capital in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.86.

Ready Capital Stock Down 1.7 %

NYSE:RC traded down $0.09 during trading hours on Wednesday, reaching $4.87. The company’s stock had a trading volume of 1,117,446 shares, compared to its average volume of 2,528,082. Ready Capital has a one year low of $4.74 and a one year high of $9.53. The business’s 50-day moving average is $6.73 and its 200-day moving average is $7.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $819.90 million, a price-to-earnings ratio of -6.96 and a beta of 1.43.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its holdings in Ready Capital by 205.9% during the 3rd quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock worth $3,699,000 after acquiring an additional 326,467 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Ready Capital by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after purchasing an additional 195,663 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ready Capital by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after purchasing an additional 112,934 shares in the last quarter. Geode Capital Management LLC raised its position in Ready Capital by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the last quarter. Finally, GraniteShares Advisors LLC bought a new position in shares of Ready Capital in the 4th quarter valued at about $2,480,000. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Company Profile

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.