UBS Group Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its price objective decreased by stock analysts at UBS Group from $8.50 to $7.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price target suggests a potential upside of 6.69% from the stock’s current price.

RC has been the topic of a number of other research reports. BTIG Research assumed coverage on Ready Capital in a report on Friday, July 19th. They set a “neutral” rating on the stock. Wedbush reaffirmed a “neutral” rating and set a $9.00 target price on shares of Ready Capital in a research note on Monday, August 12th. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating for the company in a research report on Monday, August 12th. Finally, Piper Sandler lowered 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ready Capital currently has a consensus rating of “Hold” and an average price target of $9.04.

Ready Capital Trading Down 0.6 %

Shares of Ready Capital stock traded down $0.04 on Friday, reaching $7.03. 209,675 shares of the company were exchanged, compared to its average volume of 1,550,609. Ready Capital has a fifty-two week low of $6.65 and a fifty-two week high of $11.67. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -10.04 and a beta of 1.42. The company has a current ratio of 1.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $7.38 and a 200-day moving average price of $8.16.

Institutional Investors Weigh In On Ready Capital

Large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new stake in Ready Capital in the 1st quarter worth approximately $307,000. Texas Permanent School Fund Corp lifted its stake in shares of Ready Capital by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 138,085 shares of the real estate investment trust’s stock worth $1,261,000 after buying an additional 1,718 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ready Capital by 67.2% during the 1st quarter. SG Americas Securities LLC now owns 18,520 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 7,446 shares during the period. ProShare Advisors LLC grew its stake in Ready Capital by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 32,261 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 2,209 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Ready Capital in the 1st quarter worth $272,000. 55.87% of the stock is currently owned by institutional investors.

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.