Ready Capital (NYSE:RC) Downgraded to Strong Sell Rating by Zacks Research

Ready Capital (NYSE:RC) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $2.81.

Ready Capital Price Performance

NYSE:RC opened at $1.69 on Monday. The business’s 50-day moving average price is $1.77 and its 200 day moving average price is $1.86. The firm has a market cap of $278.40 million, a P/E ratio of -0.53 and a beta of 1.43. Ready Capital has a 52-week low of $1.50 and a 52-week high of $4.73. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.95.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The business had revenue of $130.55 million during the quarter, compared to analyst estimates of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. As a group, sell-side analysts predict that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Ready Capital

A number of hedge funds have recently bought and sold shares of the company. CW Advisors LLC raised its holdings in shares of Ready Capital by 11.6% during the second quarter. CW Advisors LLC now owns 27,590 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 2,878 shares during the period. The Manufacturers Life Insurance Company grew its position in Ready Capital by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,372 shares of the real estate investment trust’s stock worth $369,000 after purchasing an additional 2,905 shares in the last quarter. Cerity Partners LLC grew its position in Ready Capital by 29.0% during the 2nd quarter. Cerity Partners LLC now owns 15,220 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 3,419 shares in the last quarter. Samalin Investment Counsel LLC raised its stake in Ready Capital by 52.1% during the 4th quarter. Samalin Investment Counsel LLC now owns 18,157 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 6,221 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Ready Capital by 65.3% in the second quarter. BNP Paribas Financial Markets now owns 17,226 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 6,807 shares in the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

About Ready Capital

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.