Keefe, Bruyette & Woods Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its target price dropped by equities researchers at Keefe, Bruyette & Woods from $3.50 to $2.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 12.59% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Zacks Research upgraded Ready Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 14th. Wall Street Zen downgraded Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. UBS Group decreased their price objective on shares of Ready Capital from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. B. Riley lowered their target price on shares of Ready Capital from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.10.

Ready Capital Price Performance

Shares of NYSE:RC opened at $2.86 on Wednesday. The company has a 50 day moving average of $3.63 and a 200 day moving average of $4.07. 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 stock has a market cap of $469.98 million, a P/E ratio of -1.50 and a beta of 1.45. Ready Capital has a 12 month low of $2.63 and a 12 month high of $7.64.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS 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%. As a group, sell-side analysts forecast that Ready Capital will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Ready Capital

A number of hedge funds have recently made changes to their positions in RC. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ready Capital by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 2,606 shares in the last quarter. CW Advisors LLC raised its position in Ready Capital by 11.6% in the 2nd 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 lifted its stake in Ready Capital by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock worth $369,000 after purchasing an additional 2,905 shares during the last quarter. Cerity Partners LLC boosted its position in Ready Capital by 29.0% during the second quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 3,419 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of 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 valued at $25,000 after buying an additional 3,600 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

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.