Ready Capital (NYSE:RC) Earns “Neutral” Rating from B. Riley

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating reissued by analysts at B. Riley in a note issued to investors on Tuesday,Benzinga reports. They presently have a $10.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $12.00. B. Riley’s price target points to a potential upside of 43.47% from the company’s current price.

Other equities analysts have also issued reports about the company. UBS Group decreased their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. JMP Securities decreased their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.82.

Ready Capital Price Performance

Shares of RC opened at $6.97 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a 50 day simple moving average of $7.19 and a 200 day simple moving average of $7.83. Ready Capital has a 52-week low of $6.65 and a 52-week high of $10.36. The firm has a market capitalization of $1.17 billion, a PE ratio of -9.96 and a beta of 1.43.

Institutional Investors Weigh In On Ready Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Ready Capital by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,189,988 shares of the real estate investment trust’s stock worth $9,734,000 after acquiring an additional 38,371 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Ready Capital by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 63,699 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 1,375 shares in the last quarter. Norden Group LLC grew its holdings in Ready Capital by 25.6% in the 2nd quarter. Norden Group LLC now owns 23,002 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 4,693 shares in the last quarter. Choreo LLC acquired a new position in Ready Capital in the 2nd quarter valued at $91,000. Finally, Public Sector Pension Investment Board grew its holdings in Ready Capital by 5.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 341,865 shares of the real estate investment trust’s stock valued at $2,796,000 after buying an additional 17,279 shares in 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.