UBS Group Issues Pessimistic Forecast for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its price objective decreased by equities researchers at UBS Group from $7.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective points to a potential downside of 1.28% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price objective on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Citizens Jmp cut Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. B. Riley reissued a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Wedbush reiterated a “neutral” rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Finally, JMP Securities decreased their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.50.

Ready Capital Trading Up 0.1 %

RC stock traded up $0.01 during midday trading on Friday, reaching $5.07. The company’s stock had a trading volume of 335,109 shares, compared to its average volume of 2,618,890. The business’s 50-day simple moving average is $6.46 and its 200-day simple moving average is $7.08. The stock has a market cap of $826.36 million, a PE ratio of -7.25 and a beta of 1.43. Ready Capital has a 52 week low of $4.74 and a 52 week high of $9.53. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Insiders Place Their Bets

In other Ready Capital news, CEO Thomas E. Capasse acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $4.80 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief executive officer now directly owns 319,925 shares in the company, valued at approximately $1,535,640. This represents a 3.23 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RC. Vanguard Group Inc. grew its holdings in Ready Capital by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after buying an additional 768,891 shares in the last quarter. State Street Corp grew its stake in shares of Ready Capital by 4.8% in the third quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares in the last quarter. Geode Capital Management LLC increased its position in Ready Capital by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after acquiring an additional 150,479 shares during the period. Invesco Ltd. raised its stake in Ready Capital by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock worth $21,251,000 after purchasing an additional 197,770 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Ready Capital by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares during the period. Institutional investors and hedge funds 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.