Ready Capital (NYSE:RC) Rating Increased to Hold at Zacks Research

Ready Capital (NYSE:RC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on RC. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. UBS Group cut their price objective on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $2.62.

Ready Capital Stock Performance

Shares of NYSE RC opened at $1.53 on Tuesday. The business’s 50-day moving average price is $1.65 and its two-hundred day moving average price is $1.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. Ready Capital has a one year low of $1.39 and a one year high of $4.46. The company has a market capitalization of $253.61 million, a P/E ratio of -0.48 and a beta of 1.45.

Ready Capital (NYSE:RC) last posted 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). Ready Capital had a negative return on equity of 14.69% and a negative net margin of 102.10%.The firm had revenue of $130.55 million for the quarter, compared to analysts’ expectations of $68.67 million. Analysts anticipate that Ready Capital will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Ready Capital

Large investors have recently made changes to their positions in the stock. Private Management Group Inc. lifted its stake in shares of Ready Capital by 197.0% in the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock worth $10,477,000 after buying an additional 3,188,135 shares during the last quarter. UBS Group AG raised its holdings in Ready Capital by 161.4% in the 4th quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after acquiring an additional 1,948,208 shares during the period. Marshall Wace LLP acquired a new position in Ready Capital during the 2nd quarter worth $6,542,000. Invesco Ltd. lifted its position in Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after acquiring an additional 742,226 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Ready Capital by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 771,379 shares of the real estate investment trust’s stock worth $1,682,000 after acquiring an additional 415,054 shares during the last quarter. Institutional investors own 55.87% of the company’s stock.

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.