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

Ready Capital (NYSE:RC) had its price objective lowered by UBS Group from $8.50 to $7.50 in a research report report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

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

Ready Capital Trading Down 0.7 %

Shares of RC opened at $7.02 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.69 and a debt-to-equity ratio of 0.54. Ready Capital has a 12-month low of $6.65 and a 12-month high of $11.67. The firm has a 50-day moving average price of $7.34 and a 200 day moving average price of $8.14. The firm has a market capitalization of $1.18 billion, a P/E ratio of -10.03 and a beta of 1.42.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.25%. The ex-dividend date was Monday, September 30th. Ready Capital’s payout ratio is -142.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Ready Capital by 94.6% in the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,634 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Ready Capital in the first quarter valued at approximately $40,000. KBC Group NV boosted its stake in shares of Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the period. Cadence Bank purchased a new position in shares of Ready Capital in the first quarter valued at approximately $91,000. Finally, Xponance Inc. purchased a new position in shares of Ready Capital in the second quarter valued at approximately $84,000. 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.