TheStreet Upgrades Ready Capital (NYSE:RC) to “B-“

Ready Capital (NYSE:RCGet Rating) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a research note issued to investors on Monday, TheStreetRatingsTable reports.

Separately, Piper Sandler dropped their target price on shares of Ready Capital from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Ready Capital Stock Performance

RC opened at $14.04 on Monday. Ready Capital has a 1-year low of $11.05 and a 1-year high of $16.56. The stock has a market cap of $1.61 billion, a P/E ratio of 5.87 and a beta of 1.13. The stock’s 50 day simple moving average is $12.85 and its 200 day simple moving average is $14.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.39 and a quick ratio of 1.39.

Institutional Trading of Ready Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Soltis Investment Advisors LLC acquired a new position in shares of Ready Capital during the 2nd quarter valued at about $23,905,000. Mission Wealth Management LP acquired a new stake in shares of Ready Capital during the 2nd quarter worth $21,215,000. Parallel Advisors LLC raised its position in shares of Ready Capital by 137,841.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,449,761 shares of the real estate investment trust’s stock worth $17,281,000 after buying an additional 1,448,710 shares during the period. Invesco Ltd. boosted its holdings in Ready Capital by 168.9% in the fourth quarter. Invesco Ltd. now owns 1,831,228 shares of the real estate investment trust’s stock valued at $28,622,000 after acquiring an additional 1,150,178 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Ready Capital by 10.1% in the 1st quarter. BlackRock Inc. now owns 11,901,911 shares of the real estate investment trust’s stock worth $179,243,000 after purchasing an additional 1,094,189 shares during the period. 41.03% of the stock is owned by hedge funds and other institutional investors.

About Ready Capital

(Get Rating)

Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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