Ready Capital (NYSE:RC) Stock Rating Upgraded by Zacks Investment Research

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Ready Capital (NYSE:RC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “

Separately, TheStreet raised shares of Ready Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Ready Capital presently has an average rating of “Hold” and a consensus target price of $16.50.

Shares of NYSE RC opened at $14.64 on Thursday. Ready Capital has a 1-year low of $13.44 and a 1-year high of $17.30. The company has a market cap of $650.24 million, a PE ratio of 8.32 and a beta of 0.76. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $14.98 and a two-hundred day moving average of $15.06.

Ready Capital (NYSE:RC) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Ready Capital had a net margin of 30.47% and a return on equity of 8.40%. The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $17.58 million. As a group, equities research analysts forecast that Ready Capital will post 1.56 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in RC. Weiss Asset Management LP acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $4,235,000. MetLife Investment Advisors LLC acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $129,000. Nordea Investment Management AB acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $1,352,000. Rhumbline Advisers acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $364,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Ready Capital during the 1st quarter worth approximately $2,786,000. 40.33% of the stock is owned by institutional investors.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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