Ready Capital (NYSE:RC) Earns “Neutral” Rating from B. Riley

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating restated by equities research analysts at B. Riley in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $10.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $12.00. B. Riley’s price objective points to a potential upside of 50.38% from the company’s current price.

Several other brokerages also recently weighed in on RC. JMP Securities lowered their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. UBS Group decreased their price objective on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Piper Sandler dropped their target price on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. 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’s stock. According to data from MarketBeat.com, Ready Capital presently has an average rating of “Hold” and a consensus target price of $8.82.

Ready Capital Stock Performance

Shares of RC opened at $6.65 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.12 billion, a PE ratio of -9.50 and a beta of 1.43. Ready Capital has a 12 month low of $6.62 and a 12 month high of $10.36. The stock has a fifty day moving average price of $7.18 and a 200-day moving average price of $7.82.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RC. KBC Group NV grew its position in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,248 shares during the period. Xponance Inc. purchased a new stake in shares of Ready Capital in the second quarter worth about $84,000. Choreo LLC acquired a new stake in Ready Capital during the second quarter worth about $91,000. Modera Wealth Management LLC purchased a new position in Ready Capital during the third quarter valued at approximately $107,000. Finally, Fisher Asset Management LLC acquired a new position in Ready Capital in the third quarter valued at approximately $116,000. 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.