Ready Capital (NYSE:RC) Rating Lowered to Sell at Wall Street Zen

Ready Capital (NYSE:RC) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also commented on RC. B. Riley decreased their price objective on Ready Capital from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, August 11th. UBS Group reduced their target price on Ready Capital from $4.75 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reduced their target price on Ready Capital from $4.25 to $3.75 and set an “underperform” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned 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 $5.96.

Ready Capital Stock Down 1.0%

Shares of NYSE:RC opened at $3.82 on Friday. Ready Capital has a 52-week low of $3.77 and a 52-week high of $8.64. The stock has a market cap of $627.73 million, a P/E ratio of -2.06 and a beta of 1.47. The business’s 50 day moving average is $4.35 and its 200 day moving average is $4.86. The company has a quick ratio of 1.78, a current ratio of 1.61 and a debt-to-equity ratio of 0.76.

Ready Capital (NYSE:RC) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The company had revenue of ($9.77) million for the quarter, compared to the consensus estimate of $167.26 million. Ready Capital had a negative net margin of 40.59% and a positive return on equity of 3.76%. Sell-side analysts predict that Ready Capital will post 0.93 EPS for the current year.

Institutional Trading of Ready Capital

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised 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 valued at $35,000 after purchasing an additional 4,616 shares during the period. Larson Financial Group LLC purchased a new stake in Ready Capital in the first quarter valued at approximately $27,000. Nomura Asset Management Co. Ltd. raised 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 valued at $25,000 after purchasing an additional 3,600 shares during the period. US Bancorp DE raised 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 valued at $31,000 after purchasing an additional 4,828 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Ready Capital in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

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.