Ready Capital (NYSE:RC) Price Target Lowered to $4.00 at Keefe, Bruyette & Woods

Ready Capital (NYSE:RC) had its target price trimmed by Keefe, Bruyette & Woods from $6.25 to $4.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an underperform rating on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on RC. B. Riley reiterated a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a report on Tuesday, January 7th. Citizens Jmp lowered shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday. Wedbush reissued a “neutral” rating and set a $6.00 target price (down previously from $8.00) on shares of Ready Capital in a report on Tuesday. JMP Securities lowered 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 report on Thursday, December 12th. Finally, UBS Group reduced their price objective on Ready Capital from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Ready Capital currently has an average rating of “Hold” and an average price target of $7.86.

Ready Capital Stock Performance

Shares of RC opened at $4.96 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The stock has a 50-day moving average of $6.73 and a two-hundred day moving average of $7.23. The stock has a market cap of $835.07 million, a P/E ratio of -7.08 and a beta of 1.43. Ready Capital has a one year low of $4.74 and a one year high of $9.53.

Ready Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date of this dividend is Monday, March 31st. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

Hedge Funds Weigh In On Ready Capital

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Ready Capital by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 11,366,828 shares of the real estate investment trust’s stock valued at $77,522,000 after buying an additional 768,891 shares in the last quarter. State Street Corp grew its stake in Ready Capital by 4.8% in the 3rd quarter. State Street Corp now owns 6,315,147 shares of the real estate investment trust’s stock valued at $49,746,000 after acquiring an additional 287,068 shares during the period. Geode Capital Management LLC increased its holdings in Ready Capital by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,838,284 shares of the real estate investment trust’s stock worth $29,292,000 after acquiring an additional 150,479 shares in the last quarter. Invesco Ltd. raised its position in Ready Capital by 6.8% during the fourth quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock worth $21,251,000 after acquiring an additional 197,770 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Ready Capital by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,266,585 shares of the real estate investment trust’s stock valued at $15,458,000 after purchasing an additional 398,005 shares in the last quarter. 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.