Ready Capital (NYSE:RC) Price Target Cut to $4.00 by Analysts at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its target price lowered by analysts at Keefe, Bruyette & Woods from $6.25 to $4.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 17.78% from the stock’s current price.

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

Ready Capital Stock Down 1.7 %

Shares of NYSE RC traded down $0.09 during trading on Wednesday, reaching $4.87. 1,117,446 shares of the stock were exchanged, compared to its average volume of 2,528,082. The company has a market capitalization of $819.90 million, a price-to-earnings ratio of -6.96 and a beta of 1.43. The business’s 50-day moving average price is $6.73 and its 200 day moving average price is $7.23. 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 twelve month low of $4.74 and a twelve month high of $9.53.

Hedge Funds Weigh In On Ready Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RC. Vanguard Group Inc. boosted its position in shares of Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock worth $77,522,000 after buying an additional 768,891 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Ready Capital in the 4th quarter valued at about $4,393,000. Charles Schwab Investment Management Inc. lifted its position in shares of Ready Capital by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock worth $15,458,000 after purchasing an additional 398,005 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of Ready Capital by 2,902.2% during the third quarter. Wolverine Asset Management LLC now owns 402,291 shares of the real estate investment trust’s stock worth $3,069,000 after purchasing an additional 388,891 shares during the period. Finally, Marshall Wace LLP increased its stake in Ready Capital by 3,049.5% in the 4th quarter. Marshall Wace LLP now owns 392,559 shares of the real estate investment trust’s stock valued at $2,677,000 after buying an additional 380,095 shares during the period. 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.