Wedbush Reaffirms Neutral Rating for Ready Capital (NYSE:RC)

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating restated by Wedbush in a research note issued to investors on Tuesday,RTT News reports. They presently have a $6.00 target price on the real estate investment trust’s stock, down from their prior target price of $8.00. Wedbush’s target price indicates a potential upside of 25.44% from the company’s current price.

A number of other equities analysts have also commented on RC. JMP Securities lowered their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research report on Thursday, December 12th. UBS Group dropped their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Keefe, Bruyette & Woods lowered their price target on shares of Ready Capital from $6.75 to $6.25 and set an “underperform” rating for the company in a report on Tuesday, January 14th. B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Finally, Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Ready Capital currently has a consensus rating of “Hold” and a consensus target price of $8.18.

Ready Capital Stock Performance

Shares of RC stock traded down $0.29 during trading on Tuesday, reaching $4.78. 1,343,173 shares of the company’s stock were exchanged, compared to its average volume of 2,432,130. Ready Capital has a twelve month low of $4.74 and a twelve month high of $9.53. The stock has a market capitalization of $806.08 million, a PE ratio of -6.82 and a beta of 1.43. The firm’s fifty day moving average price is $6.78 and its 200-day moving average price is $7.25. 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 Investors Weigh In On Ready Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Ready Capital by 11.7% in the 3rd 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 during the period. JPMorgan Chase & Co. increased its position in shares of Ready Capital by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 336,773 shares of the real estate investment trust’s stock valued at $2,570,000 after purchasing an additional 112,934 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Ready Capital by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after purchasing an additional 150,479 shares during the period. Finally, GraniteShares Advisors LLC bought a new stake in shares of Ready Capital during the 4th quarter worth $2,480,000. Hedge funds and other 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.