Ready Capital (NYSE:RC) Sees Strong Trading Volume

Ready Capital Corp (NYSE:RC) saw unusually-high trading volume on Wednesday . Approximately 386,520 shares were traded during mid-day trading, an increase of 368% from the previous session’s volume of 82,607 shares.The stock last traded at $16.27 and had previously closed at $16.24.

A number of research firms recently weighed in on RC. B. Riley restated a “buy” rating and set a $17.00 price target on shares of Ready Capital in a research report on Thursday. Cantor Fitzgerald cut their price objective on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, September 3rd. TheStreet raised shares of Ready Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 14th. Compass Point cut Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 target price on the stock. in a report on Friday, November 8th. Finally, Zacks Investment Research upgraded Ready Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Ready Capital has an average rating of “Hold” and an average target price of $16.70.

The firm has a market capitalization of $731.97 million, a price-to-earnings ratio of 8.80 and a beta of 0.67. The business has a 50 day simple moving average of $15.91 and a 200-day simple moving average of $15.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ready Capital had a net margin of 26.39% and a return on equity of 8.19%. The firm had revenue of $20.33 million for the quarter, compared to analyst estimates of $20.75 million. Equities analysts predict that Ready Capital Corp will post 1.55 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ready Capital by 561.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,626 shares during the last quarter. Bank of Montreal Can grew its position in Ready Capital by 189.6% in the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 2,624 shares during the period. Motco purchased a new position in Ready Capital in the second quarter worth approximately $65,000. BNP Paribas Arbitrage SA acquired a new stake in Ready Capital during the second quarter worth $68,000. Finally, Synovus Financial Corp increased its stake in Ready Capital by 11.9% during the third quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 629 shares during the last quarter. Institutional investors own 39.84% of the company’s stock.

About Ready Capital (NYSE:RC)

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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