Ready Capital (NYSE:RC) Price Target Cut to $9.50 by Analysts at JMP Securities

Ready Capital (NYSE:RC) had its price objective reduced by analysts at JMP Securities from $10.50 to $9.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 27.43% from the company’s current price.

RC has been the topic of a number of other reports. Piper Sandler reduced their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.11.

Ready Capital Price Performance

Shares of NYSE:RC opened at $7.46 on Thursday. Ready Capital has a 1 year low of $6.65 and a 1 year high of $11.67. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $7.17 and its two-hundred day moving average is $7.97.

Institutional Investors Weigh In On Ready Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its position in shares of Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,634 shares in the last quarter. KBC Group NV increased its stake in Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the last quarter. Xponance Inc. purchased a new position in Ready Capital in the second quarter valued at approximately $84,000. Choreo LLC purchased a new stake in shares of Ready Capital during the 2nd quarter worth approximately $91,000. Finally, Modera Wealth Management LLC purchased a new stake in shares of Ready Capital during the 3rd quarter worth approximately $107,000. 55.87% of the stock is currently owned by institutional investors and hedge funds.

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.