UBS Group Lowers Ready Capital (NYSE:RC) Price Target to $7.50

Ready Capital (NYSE:RC - Get Free Report) had its price objective dropped by UBS Group from $8.50 to $7.50 in a research note issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target would suggest a potential upside of 6.84% from the stock's current price.

RC has been the topic of several other reports. BTIG Research initiated coverage on shares of Ready Capital in a report on Friday, July 19th. They issued a "neutral" rating on the stock. Piper Sandler cut their price target on Ready Capital from $9.50 to $8.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Keefe, Bruyette & Woods cut their price objective on Ready Capital from $8.00 to $7.75 and set an "underperform" rating for the company in a research report on Monday, August 12th. Finally, Wedbush reissued a "neutral" rating and issued a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $9.04.

Ready Capital Price Performance

RC stock traded down $0.05 during midday trading on Friday, reaching $7.02. The stock had a trading volume of 1,583,452 shares, compared to its average volume of 1,556,821. The company's fifty day simple moving average is $7.34 and its 200 day simple moving average is $8.14. The company has a current ratio of 1.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -10.03 and a beta of 1.42. Ready Capital has a 52-week low of $6.65 and a 52-week high of $11.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its holdings in Ready Capital by 94.6% in the 2nd quarter. CWM LLC now owns 3,361 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 1,634 shares in the last quarter. EntryPoint Capital LLC bought a new position in Ready Capital in the 1st quarter valued at $40,000. KBC Group NV boosted its position in Ready Capital by 64.1% in the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 3,248 shares during the last quarter. Xponance Inc. bought a new position in Ready Capital in the 2nd quarter valued at $84,000. Finally, Cadence Bank acquired a new position in shares of Ready Capital in the 1st quarter valued at $91,000. Hedge funds and other institutional investors own 55.87% of the company's stock.

Ready Capital Company Profile

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.