Keefe, Bruyette & Woods Issues Pessimistic Forecast for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $3.75 to $3.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 1.45% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. B. Riley dropped their price target on Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Wall Street Zen lowered Ready Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. UBS Group lowered their price target on shares of Ready Capital from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ready Capital in a research report on Wednesday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.40.

Ready Capital Price Performance

Shares of NYSE RC opened at $3.45 on Thursday. The firm has a 50-day simple moving average of $4.04 and a 200-day simple moving average of $4.32. The stock has a market capitalization of $566.94 million, a price-to-earnings ratio of -1.86 and a beta of 1.45. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.76. Ready Capital has a 52 week low of $3.42 and a 52 week high of $7.64.

Ready Capital (NYSE:RC) last issued its earnings results on Tuesday, September 9th. The real estate investment trust reported ($0.10) EPS for the quarter. The business had revenue of ($9.77) million during the quarter. Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. On average, equities analysts predict that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in Ready Capital in the 1st quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. increased its holdings in Ready Capital by 163.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 3,600 shares during the last quarter. US Bancorp DE increased its holdings in Ready Capital by 404.7% in the 1st 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 during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Ready Capital in the 1st quarter valued at approximately $32,000. Finally, Bogart Wealth LLC purchased a new position in Ready Capital during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors 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.