UBS Group Cuts Ready Capital (NYSE:RC) Price Target to $5.00

Ready Capital (NYSE:RC) had its target price decreased by equities research analysts at UBS Group from $7.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would indicate a potential downside of 0.30% from the stock’s current price.

RC has been the topic of a number of other research reports. Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Ready Capital from $6.25 to $4.00 and set an “underperform” rating on the stock in a research note on Wednesday, March 5th. B. Riley reissued a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research note on Tuesday, January 7th. Wedbush reissued a “neutral” rating and issued a $6.00 price target (down previously from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Finally, JMP Securities dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital has an average rating of “Hold” and an average price target of $7.50.

Ready Capital Price Performance

Shares of NYSE RC opened at $5.02 on Friday. The stock has a market capitalization of $818.20 million, a price-to-earnings 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 firm’s 50 day simple moving average is $6.42 and its 200-day simple moving average is $7.05. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67.

Insiders Place Their Bets

In related news, CEO Thomas E. Capasse purchased 10,000 shares of Ready Capital stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $4.80 per share, for a total transaction of $48,000.00. Following the acquisition, the chief executive officer now directly owns 319,925 shares in the company, valued at approximately $1,535,640. The trade was a 3.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Shorepoint Capital Partners LLC raised its holdings in shares of Ready Capital by 2.4% during the 4th quarter. Shorepoint Capital Partners LLC now owns 64,500 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 1,500 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position 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 valued at $300,000 after buying an additional 1,543 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Ready Capital by 18.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,193 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 2,328 shares during the last quarter. HighTower Advisors LLC lifted its position in Ready Capital by 3.9% in the fourth quarter. HighTower Advisors LLC now owns 76,803 shares of the real estate investment trust’s stock valued at $524,000 after buying an additional 2,917 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Ready Capital by 2.4% in the third quarter. Thrivent Financial for Lutherans now owns 132,098 shares of the real estate investment trust’s stock valued at $1,008,000 after buying an additional 3,123 shares during the last quarter. 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.