JMP Securities Cuts Ready Capital (NYSE:RC) Price Target to $9.50

Ready Capital (NYSE:RC) had its price target reduced by JMP Securities from $10.50 to $9.50 in a research report report published on Thursday,Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on RC. UBS Group decreased their target price 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. Piper Sandler reduced their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ready Capital currently has an average rating of “Hold” and an average target price of $9.11.

Ready Capital Price Performance

NYSE:RC opened at $7.45 on Thursday. The business’s 50-day simple moving average is $7.17 and its two-hundred day simple moving average is $7.97. Ready Capital has a 52 week low of $6.65 and a 52 week high of $11.67. The stock has a market cap of $1.26 billion, a PE ratio of -10.64 and a beta of 1.43. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. HB Wealth Management LLC lifted its position in Ready Capital by 3.4% during the second quarter. HB Wealth Management LLC now owns 33,216 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 1,101 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Ready Capital by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after acquiring an additional 1,375 shares during the last quarter. CWM LLC grew its position in Ready Capital by 94.6% in the second 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. Louisiana State Employees Retirement System increased its stake in Ready Capital by 4.0% during the third quarter. Louisiana State Employees Retirement System now owns 81,300 shares of the real estate investment trust’s stock worth $620,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Ready Capital by 2.4% during the third quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 3,123 shares during the period. 55.87% of the stock is owned by hedge funds and other institutional investors.

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.