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

Ready Capital (NYSE:RCFree Report) had its price objective lowered by Keefe, Bruyette & Woods from $4.25 to $3.75 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently commented on the company. UBS Group cut their price target on Ready Capital from $4.75 to $4.50 and set a “neutral” rating for the company in a report on Wednesday, May 21st. B. Riley cut their price target on Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.96.

Get Our Latest Stock Analysis on Ready Capital

Ready Capital Price Performance

Shares of Ready Capital stock opened at $3.84 on Tuesday. The business has a 50 day simple moving average of $4.38 and a two-hundred day simple moving average of $4.91. Ready Capital has a 12 month low of $3.77 and a 12 month high of $8.64. The stock has a market capitalization of $654.75 million, a P/E ratio of -2.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.61 and a quick ratio of 1.78.

Ready Capital (NYSE:RCGet Free Report) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. The firm had revenue of ($9.77) million for the quarter, compared to analyst estimates of $167.26 million. As a group, analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 13.0%. The ex-dividend date was Monday, June 30th. Ready Capital’s dividend payout ratio is presently -27.03%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position 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 worth $35,000 after acquiring an additional 4,616 shares during the period. Larson Financial Group LLC purchased a new position in Ready Capital in the first quarter worth approximately $27,000. Nomura Asset Management Co. Ltd. grew its position in Ready Capital by 163.6% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 3,600 shares during the period. US Bancorp DE grew its position 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 worth $31,000 after acquiring an additional 4,828 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Ready Capital in the first quarter worth approximately $32,000. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

About Ready Capital

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ready Capital (NYSE:RC)

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