Ready Capital Co. (NYSE:RC) Receives Consensus Rating of “Hold” from Brokerages

Ready Capital Co. (NYSE:RC) has been given an average rating of “Hold” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.93.

Several analysts recently issued reports on the stock. LADENBURG THALM/SH SH lowered shares of Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. BTIG Research dropped their price target on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. UBS Group dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, B. Riley reiterated a “buy” rating and issued a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th.

Ready Capital Stock Down 0.4 %

Shares of Ready Capital stock opened at $8.26 on Tuesday. The company has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $9.23. Ready Capital has a 52-week low of $7.93 and a 52-week high of $11.97. The stock has a market capitalization of $1.39 billion, a PE ratio of 5.13 and a beta of 1.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.76.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Ready Capital had a net margin of 23.81% and a return on equity of 8.11%. The firm had revenue of $232.35 million during the quarter, compared to analyst estimates of $64.34 million. During the same period in the previous year, the business posted $0.31 earnings per share. On average, analysts anticipate that Ready Capital will post 1.17 EPS for the current fiscal year.

Insider Activity at Ready Capital

In other news, Director Gilbert E. Nathan bought 10,000 shares of Ready Capital stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $8.29 per share, with a total value of $82,900.00. Following the completion of the purchase, the director now owns 95,249 shares in the company, valued at approximately $789,614.21. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RC. Bear Mountain Capital Inc. purchased a new position in Ready Capital during the 4th quarter valued at about $30,000. EdgeRock Capital LLC purchased a new position in Ready Capital during the 4th quarter valued at about $36,000. EntryPoint Capital LLC purchased a new position in Ready Capital during the 1st quarter valued at about $40,000. MCF Advisors LLC purchased a new position in Ready Capital during the 1st quarter valued at about $42,000. Finally, Cadence Bank purchased a new position in Ready Capital during the 1st quarter valued at about $91,000. 55.87% of the stock is currently owned by 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.