Ready Capital’s (RC) “Neutral” Rating Reiterated at Wedbush

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $6.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $8.00. Wedbush’s price target would indicate a potential upside of 25.44% from the company’s previous close.

A number of other research firms have also weighed in on RC. Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday. B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. UBS Group dropped their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a 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 report on Thursday, December 12th. Finally, Keefe, Bruyette & Woods decreased their price target on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Ready Capital has a consensus rating of “Hold” and an average target price of $8.18.

Ready Capital Stock Performance

Shares of RC traded down $0.29 during trading hours on Tuesday, hitting $4.78. The company’s stock had a trading volume of 1,343,173 shares, compared to its average volume of 2,432,130. The company has a market cap of $806.08 million, a price-to-earnings ratio of -6.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business has a 50 day simple moving average of $6.78 and a two-hundred day simple moving average of $7.25. Ready Capital has a 52-week low of $4.74 and a 52-week high of $9.53.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RC. B. Riley Wealth Advisors Inc. lifted its stake in Ready Capital by 110.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,893 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 12,000 shares during the last quarter. AlphaCore Capital LLC raised its holdings in shares of Ready Capital by 25.4% during the 4th quarter. AlphaCore Capital LLC now owns 23,024 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 4,660 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ready Capital by 19.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 432,540 shares of the real estate investment trust’s stock valued at $2,950,000 after buying an additional 70,314 shares in the last quarter. Squarepoint Ops LLC lifted its position in Ready Capital by 11.7% in the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 4,486 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Ready Capital in the fourth quarter worth approximately $1,094,000. Institutional investors own 55.87% of the company’s stock.

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.