Ready Capital (NYSE:RC) PT Lowered to $10.00 at BTIG Research

Ready Capital (NYSE:RC) had its price objective dropped by equities research analysts at BTIG Research from $12.00 to $10.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective indicates a potential upside of 17.10% from the company’s previous close.

RC has been the subject of several other reports. StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. UBS Group reduced their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. B. Riley reaffirmed a “buy” rating and set a $12.00 target price (down from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (down from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.93.

Ready Capital Price Performance

Shares of Ready Capital stock traded up $0.21 on Wednesday, reaching $8.54. The company’s stock had a trading volume of 989,456 shares, compared to its average volume of 1,441,751. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.47 billion, a P/E ratio of 3.63 and a beta of 1.40. The stock has a 50-day moving average price of $8.86 and a 200-day moving average price of $9.64. Ready Capital has a 52-week low of $8.25 and a 52-week high of $11.97.

Insider Activity at Ready Capital

In related news, Director Gilbert E. Nathan bought 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the acquisition, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Ready Capital news, Director Kevin M. Luebbers purchased 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $8.43 per share, for a total transaction of $42,150.00. Following the acquisition, the director now owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert E. Nathan bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the acquisition, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,150 shares of company stock valued at $148,280. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Ready Capital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its position in Ready Capital by 163.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,289 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,421 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in Ready Capital in the 4th quarter valued at about $30,000. EdgeRock Capital LLC acquired a new stake in Ready Capital in the 4th quarter valued at about $36,000. MCF Advisors LLC acquired a new stake in Ready Capital in the 1st quarter valued at about $42,000. Finally, FMR LLC raised its position in Ready Capital by 37.0% in the 1st quarter. FMR LLC now owns 4,710 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,272 shares in the last quarter. 55.87% of the stock is currently owned by hedge funds and other institutional investors.

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.