Keefe, Bruyette & Woods Lowers Ready Capital (NYSE:RC) Price Target to $4.00

Ready Capital (NYSE:RC) had its price objective cut by equities research analysts at Keefe, Bruyette & Woods from $6.25 to $4.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 19.92% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Citizens Jmp downgraded shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research report on Monday. JMP Securities cut their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. B. Riley reaffirmed a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. UBS Group cut their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Wedbush reissued a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ready Capital has an average rating of “Hold” and a consensus price target of $7.86.

Ready Capital Stock Up 0.7 %

Shares of Ready Capital stock opened at $5.00 on Wednesday. The firm’s 50 day moving average price is $6.68 and its 200-day moving average price is $7.21. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital has a 52-week low of $4.74 and a 52-week high of $9.53. The company has a market cap of $841.81 million, a P/E ratio of -7.14 and a beta of 1.43.

Insider Activity

In other Ready Capital news, CEO Thomas E. Capasse acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $4.80 per share, with a total value of $48,000.00. Following the acquisition, the chief executive officer now directly owns 319,925 shares of the company’s stock, valued at approximately $1,535,640. The trade was a 3.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Ready Capital

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Ready Capital by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after purchasing an additional 768,891 shares during the period. State Street Corp lifted its stake in shares of Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after purchasing an additional 287,068 shares during the period. Geode Capital Management LLC lifted its stake in shares of Ready Capital by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock valued at $29,292,000 after purchasing an additional 150,479 shares during the period. Invesco Ltd. lifted its stake in shares of Ready Capital by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock valued at $21,251,000 after purchasing an additional 197,770 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Ready Capital by 21.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares during the period. 55.87% of the stock is currently owned by institutional investors and hedge funds.

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.