Ready Capital (NYSE:RC) Price Target Cut to $3.75 by Analysts at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its price target cut by Keefe, Bruyette & Woods from $4.00 to $3.75 in a research note published on Tuesday,Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on RC. Wedbush reissued a “neutral” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. UBS Group cut their price target on shares of Ready Capital from $5.00 to $4.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.00.

Ready Capital Stock Performance

Shares of RC stock opened at $4.25 on Tuesday. The company has a market capitalization of $732.22 million, a price-to-earnings ratio of -6.07 and a beta of 1.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The company has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $6.14. Ready Capital has a 52 week low of $3.93 and a 52 week high of $9.54.

Ready Capital (NYSE:RC) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.21). The company had revenue of $40.24 million for the quarter, compared to the consensus estimate of $212.33 million. Ready Capital had a positive return on equity of 7.53% and a negative net margin of 11.65%. On average, sell-side analysts predict that Ready Capital will post 0.93 earnings per share for the current year.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 11.76%. The ex-dividend date of this dividend was Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is presently -28.74%.

Insider Transactions at Ready Capital

In other news, insider Adam Zausmer acquired 10,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $5.42 per share, for a total transaction of $54,200.00. Following the completion of the transaction, the insider now directly owns 301,105 shares in the company, valued at $1,631,989.10. This represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ready Capital

Several hedge funds and other institutional investors have recently bought and sold shares of RC. Larson Financial Group LLC bought a new stake in Ready Capital in the first quarter valued at $27,000. US Bancorp DE increased its stake in Ready Capital by 404.7% in the first quarter. US Bancorp DE now owns 6,021 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 4,828 shares in the last quarter. Sterling Capital Management LLC increased its stake in Ready Capital by 822.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 4,616 shares in the last quarter. IFP Advisors Inc increased its stake in Ready Capital by 1,410.5% in the first quarter. IFP Advisors Inc now owns 7,326 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 6,841 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Ready Capital by 3,075.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 6,150 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

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.