Ready Capital (NYSE:RC) Earns “Neutral” Rating from B. Riley

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating reissued by research analysts at B. Riley in a report released on Tuesday,Benzinga reports. They presently have a $10.00 price target on the real estate investment trust’s stock, down from their prior price target of $12.00. B. Riley’s target price indicates a potential upside of 43.47% from the company’s current price.

Several other analysts also recently weighed in on RC. JMP Securities dropped their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, UBS Group lowered their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ready Capital has an average rating of “Hold” and a consensus price target of $8.82.

Ready Capital Stock Performance

RC opened at $6.97 on Tuesday. The firm has a market cap of $1.17 billion, a P/E ratio of -9.96 and a beta of 1.43. Ready Capital has a 52-week low of $6.65 and a 52-week high of $10.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The business’s fifty day moving average is $7.19 and its 200-day moving average is $7.83.

Institutional Investors Weigh In On Ready Capital

Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Ready Capital by 205.9% in the third quarter. Barclays PLC now owns 484,986 shares of the real estate investment trust’s stock valued at $3,699,000 after acquiring an additional 326,467 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ready Capital by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,868,580 shares of the real estate investment trust’s stock valued at $14,257,000 after purchasing an additional 195,663 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Ready Capital by 84.0% in the third quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after purchasing an additional 657,465 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ready Capital by 4.1% in the third 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 in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Ready Capital by 2,902.2% in the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock valued at $3,069,000 after purchasing an additional 388,891 shares in the last quarter. Institutional investors and hedge funds 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.