B. Riley Reaffirms Neutral Rating for Ready Capital (NYSE:RC)

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating reaffirmed by analysts at B. Riley in a research report issued on Tuesday, MarketBeat reports. They currently have a $10.00 price target on the real estate investment trust’s stock, down from their previous price target of $12.00. B. Riley’s target price indicates a potential upside of 50.38% from the company’s current price.

Several other brokerages have also recently commented on RC. Piper Sandler dropped their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group dropped their target price on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Finally, JMP Securities decreased 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.82.

Ready Capital Stock Down 3.1 %

RC opened at $6.65 on Tuesday. The company has a market cap of $1.12 billion, a PE ratio of -9.50 and a beta of 1.43. Ready Capital has a twelve month low of $6.62 and a twelve month high of $10.36. The company has a 50-day moving average price of $7.18 and a 200 day moving average price of $7.82. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.54.

Institutional Investors Weigh In On Ready Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV lifted its stake in shares of Ready Capital by 64.1% in the 3rd 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 last quarter. Xponance Inc. purchased a new stake in Ready Capital in the 2nd quarter valued at about $84,000. Choreo LLC acquired a new position in Ready Capital in the second quarter valued at about $91,000. Modera Wealth Management LLC purchased a new position in Ready Capital during the third quarter worth about $107,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Ready Capital during the second quarter valued at about $126,000. Institutional investors and hedge funds 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.