UBS Group Lowers Ready Capital (NYSE:RC) Price Target to $4.75

Ready Capital (NYSE:RC - Get Free Report) had its price objective decreased by equities researchers at UBS Group from $5.00 to $4.75 in a report released on Wednesday,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 8.08% from the stock's previous close.

A number of other brokerages also recently commented on RC. B. Riley reiterated a "neutral" rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods cut their price objective on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Wedbush reiterated a "neutral" rating and issued a $6.00 target price (down from $8.00) on shares of Ready Capital in a report on Tuesday, March 4th. Finally, Citizens Jmp downgraded shares of Ready Capital from an "outperform" rating to a "market perform" rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.04.

Ready Capital Price Performance

Shares of Ready Capital stock traded up $0.20 during trading hours on Wednesday, reaching $4.40. 2,320,683 shares of the company's stock were exchanged, compared to its average volume of 1,982,696. The business has a fifty day moving average of $5.40 and a two-hundred day moving average of $6.49. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $755.18 million, a P/E ratio of -6.28 and a beta of 1.23. Ready Capital has a 1 year low of $4.16 and a 1 year high of $9.54.

Insiders Place Their Bets

In related news, insider Adam Zausmer acquired 10,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $5.42 per share, with a total value of $54,200.00. Following the completion of the transaction, the insider now owns 301,105 shares of the company's stock, valued at $1,631,989.10. The trade was a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.09% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RC. Shorepoint Capital Partners LLC boosted its stake in shares of Ready Capital by 2.4% in the 4th quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust's stock valued at $440,000 after buying an additional 1,500 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Ready Capital by 3.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 44,038 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 1,543 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Ready Capital by 18.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 2,328 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Ready Capital by 3.9% in the 4th quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust's stock valued at $524,000 after purchasing an additional 2,917 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Ready Capital by 11.7% during the 4th quarter. Squarepoint Ops LLC now owns 42,964 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 4,486 shares during the last quarter. 55.87% of the stock is owned by institutional investors and hedge funds.

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.