UBS Group Cuts Ready Capital (NYSE:RC) Price Target to $5.00

Ready Capital (NYSE:RC) had its price target decreased by UBS Group from $7.00 to $5.00 in a research note issued to investors on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the stock. Wedbush reissued a “neutral” rating and issued a $6.00 price objective (down from $8.00) on shares of Ready Capital in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods cut their price target on Ready Capital from $6.25 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, March 5th. B. Riley reiterated a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. JMP Securities lowered their price target on shares of Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a report on Thursday, December 12th. Finally, Citizens Jmp cut shares of Ready Capital from an “outperform” rating to a “market perform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Ready Capital currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Ready Capital Trading Down 0.9 %

Shares of RC stock opened at $5.02 on Friday. Ready Capital has a 1-year low of $4.74 and a 1-year high of $9.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.67 and a quick ratio of 1.67. The business’s fifty day moving average price is $6.42 and its 200 day moving average price is $7.04. The firm has a market capitalization of $818.20 million, a PE ratio of -7.16 and a beta of 1.43.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, March 31st. This represents a $0.50 dividend on an annualized basis and a yield of 9.97%. Ready Capital’s dividend payout ratio (DPR) is -18.94%.

Insider Activity at Ready Capital

In other Ready Capital news, insider Adam Zausmer bought 10,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $5.42 per share, with a total value of $54,200.00. Following the completion of the acquisition, the insider now owns 301,105 shares of the company’s stock, valued at approximately $1,631,989.10. This trade represents a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ready Capital

Several institutional investors and hedge funds have recently bought and sold shares of RC. Sterling Capital Management LLC grew its holdings in shares of Ready Capital by 822.8% during the fourth quarter. Sterling Capital Management LLC now owns 5,177 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 4,616 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Ready Capital by 3,075.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,350 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 6,150 shares during the last quarter. Avion Wealth acquired a new stake in shares of Ready Capital in the 4th quarter worth about $47,000. KBC Group NV boosted its stake in Ready Capital by 64.1% during the 3rd quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,248 shares during the period. Finally, Ausdal Financial Partners Inc. bought a new position in Ready Capital in the 4th quarter worth about $68,000. 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.