Ready Capital (NYSE:RC) PT Lowered to $10.00

Ready Capital (NYSE:RC) had its price target lowered by stock analysts at BTIG Research from $12.00 to $10.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target indicates a potential upside of 17.99% from the company’s current price.

Several other analysts also recently issued reports on RC. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. UBS Group decreased their target price on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. B. Riley restated a “buy” rating and issued a $12.00 target price (down from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.93.

Ready Capital Stock Performance

Shares of Ready Capital stock opened at $8.48 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 3.62 and a beta of 1.40. Ready Capital has a 52-week low of $8.25 and a 52-week high of $11.97. The company’s 50-day simple moving average is $8.84 and its 200-day simple moving average is $9.62. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44.

Insider Buying and Selling at Ready Capital

In other news, Director Gilbert E. Nathan bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares in the company, valued at approximately $718,806.35. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kevin M. Luebbers purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Gilbert E. Nathan purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the transaction, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 17,150 shares of company stock valued at $148,280. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently bought and sold shares of RC. Naviter Wealth LLC acquired a new stake in shares of Ready Capital in the 1st quarter valued at $94,000. MCF Advisors LLC acquired a new position in Ready Capital during the 1st quarter worth about $42,000. &PARTNERS grew its holdings in Ready Capital by 32.0% during the 1st quarter. &PARTNERS now owns 184,465 shares of the real estate investment trust’s stock worth $1,684,000 after acquiring an additional 44,760 shares during the last quarter. MJP Associates Inc. ADV grew its holdings in Ready Capital by 28.2% during the 1st quarter. MJP Associates Inc. ADV now owns 37,614 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 8,285 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Ready Capital by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after acquiring an additional 735,949 shares during the last quarter. 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.