Ready Capital (NYSE:RC - Free Report) had its price target decreased by UBS Group from $7.00 to $5.00 in a report released on Friday,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust's stock.
Several other brokerages also recently commented on RC. JMP Securities cut their price target on shares of Ready Capital from $10.50 to $9.50 and set a "market outperform" rating for the company in a report on Thursday, December 12th. B. Riley restated 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 lowered their price objective on shares of Ready Capital from $6.25 to $4.00 and set an "underperform" rating on the stock in a research report on Wednesday, March 5th. Wedbush restated a "neutral" rating and set a $6.00 price objective (down previously from $8.00) on shares of Ready Capital in a research report on Tuesday, March 4th. Finally, Citizens Jmp cut shares of Ready Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Ready Capital presently has an average rating of "Hold" and an average target price of $7.50.
Check Out Our Latest Stock Analysis on RC
Ready Capital Stock Performance
RC traded down $0.05 on Friday, hitting $5.02. The company's stock had a trading volume of 2,491,849 shares, compared to its average volume of 2,663,792. The company's 50 day simple moving average is $6.42 and its 200-day simple moving average is $7.05. The firm has a market cap of $818.20 million, a P/E ratio of -7.16 and a beta of 1.43. Ready Capital has a 12 month low of $4.74 and a 12 month high of $9.53. 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 Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.97%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital's payout ratio is -18.94%.
Insider Buying and Selling at Ready Capital
In related news, insider Adam Zausmer bought 10,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $5.42 per share, with a total value of $54,200.00. Following the purchase, the insider now owns 301,105 shares of the company's stock, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.09% of the company's stock.
Institutional Investors Weigh In On Ready Capital
Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in shares of Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 4,616 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Ready Capital by 3,075.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 6,150 shares in the last quarter. Avion Wealth bought a new stake in Ready Capital during the fourth quarter worth about $47,000. 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 acquiring an additional 3,248 shares in the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in Ready Capital during the fourth quarter worth about $68,000. Institutional investors own 55.87% of the company's stock.
About Ready Capital
(
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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.
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