Ready Capital (NYSE:RC) Price Target Cut to $3.75 by Analysts at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its price target cut by equities research analysts at Keefe, Bruyette & Woods from $4.00 to $3.75 in a report issued on Tuesday,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 12.18% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. UBS Group lowered their target price on shares of Ready Capital from $5.00 to $4.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.00.

Ready Capital Price Performance

Ready Capital stock opened at $4.27 on Tuesday. The company’s fifty day moving average price is $4.67 and its 200 day moving average price is $6.13. Ready Capital has a 1 year low of $3.93 and a 1 year high of $9.54. The stock has a market capitalization of $735.66 million, a P/E ratio of -6.10 and a beta of 1.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). Ready Capital had a negative net margin of 11.65% and a positive return on equity of 7.53%. The company had revenue of $40.24 million during the quarter, compared to analyst estimates of $212.33 million. As a group, equities research analysts anticipate that Ready Capital will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at Ready Capital

In related news, insider Adam Zausmer purchased 10,000 shares of Ready Capital stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $5.42 per share, for a total transaction of $54,200.00. Following the acquisition, the insider now directly owns 301,105 shares in the company, valued at approximately $1,631,989.10. The trade was a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Shorepoint Capital Partners LLC raised its holdings in shares of Ready Capital by 2.4% during the 4th quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 1,500 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in Ready Capital by 3.6% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 44,038 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 1,543 shares during the period. PNC Financial Services Group Inc. raised its holdings in Ready Capital by 18.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2,328 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ready Capital by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,288 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 2,606 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Ready Capital by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 2,917 shares during the period. Hedge funds and other institutional investors 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.