B. Riley Lowers Ready Capital (NYSE:RC) Price Target to $4.00

Ready Capital (NYSE:RC) had its price objective dropped by equities research analysts at B. Riley from $6.00 to $4.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. B. Riley’s price target would suggest a potential upside of 4.17% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price objective on Ready Capital from $3.75 to $4.25 and gave the company an “underperform” rating in a research note on Thursday, July 10th. UBS Group reduced their price target on shares of Ready Capital from $4.75 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.96.

Ready Capital Price Performance

Shares of NYSE:RC opened at $3.84 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.78 and a debt-to-equity ratio of 0.76. The stock has a market cap of $654.75 million, a PE ratio of -2.08 and a beta of 1.47. The stock’s fifty day simple moving average is $4.38 and its two-hundred day simple moving average is $4.91. Ready Capital has a 1-year low of $3.77 and a 1-year high of $8.64.

Ready Capital (NYSE:RC) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Ready Capital had a positive return on equity of 3.76% and a negative net margin of 40.59%. The firm had revenue of ($9.77) million for the quarter, compared to analysts’ expectations of $167.26 million. As a group, analysts forecast that Ready Capital will post 0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RC. JPMorgan Chase & Co. boosted its stake in Ready Capital by 82.7% during the fourth quarter. JPMorgan Chase & Co. now owns 615,431 shares of the real estate investment trust’s stock valued at $4,197,000 after buying an additional 278,658 shares during the period. Invesco Ltd. raised its holdings in shares of Ready Capital by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,116,019 shares of the real estate investment trust’s stock valued at $21,251,000 after acquiring an additional 197,770 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Ready Capital in the 4th quarter valued at about $1,839,000. Sterling Capital Management LLC boosted its position in shares of Ready Capital by 822.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 4,616 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Ready Capital by 18.8% during the fourth quarter. Townsquare Capital LLC now owns 86,627 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 13,704 shares in the last quarter. Hedge funds and other institutional investors own 55.87% of the company’s stock.

About Ready Capital

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.