JMP Securities Issues Pessimistic Forecast for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its target price dropped by analysts at JMP Securities from $10.50 to $9.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the real estate investment trust’s stock. JMP Securities’ price target points to a potential upside of 27.43% from the stock’s current price.

A number of other equities research analysts have also issued reports on RC. Piper Sandler dropped their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group dropped their target price on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.11.

Ready Capital Trading Up 1.6 %

Shares of NYSE RC opened at $7.46 on Thursday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. Ready Capital has a 12-month low of $6.65 and a 12-month high of $11.67. The company has a 50-day moving average of $7.17 and a 200 day moving average of $7.97.

Institutional Investors Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its position in shares of Ready Capital by 94.6% during the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,634 shares during the last quarter. KBC Group NV boosted its stake in Ready Capital by 64.1% during the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,248 shares during the period. Xponance Inc. acquired a new stake in shares of Ready Capital during the second quarter valued at about $84,000. Choreo LLC purchased a new stake in shares of Ready Capital in the 2nd quarter valued at approximately $91,000. Finally, Naviter Wealth LLC lifted its holdings in shares of Ready Capital by 35.0% in the 2nd quarter. Naviter Wealth LLC now owns 13,500 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 3,500 shares during the last quarter. 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.