Ready Capital (NYSE:RC) Rating Reiterated by Wedbush

Ready Capital (NYSE:RC)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a research note issued to investors on Monday, Benzinga reports. They currently have a $9.00 target price on the real estate investment trust’s stock. Wedbush’s price target points to a potential upside of 7.91% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. BTIG Research began coverage on shares of Ready Capital in a research report on Friday, July 19th. They set a “neutral” rating on the stock. LADENBURG THALM/SH SH downgraded Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.04.

Ready Capital Trading Down 0.5 %

Ready Capital stock opened at $8.34 on Monday. Ready Capital has a fifty-two week low of $7.93 and a fifty-two week high of $11.67. The firm’s fifty day moving average price is $8.70 and its 200-day moving average price is $8.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.76 and a current ratio of 1.69. The stock has a market cap of $1.40 billion, a P/E ratio of 5.18 and a beta of 1.43.

Ready Capital (NYSE:RC) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). The business had revenue of $234.12 million for the quarter, compared to the consensus estimate of $61.77 million. Ready Capital had a negative net margin of 5.67% and a positive return on equity of 7.32%. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts forecast that Ready Capital will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Ready Capital

In related news, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $8.29 per share, with a total value of $82,900.00. Following the completion of the purchase, the director now owns 95,249 shares of the company’s stock, valued at $789,614.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Ready Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Waterfall Asset Management LLC bought a new stake in Ready Capital in the 4th quarter worth $40,067,000. Janus Henderson Group PLC boosted its holdings in shares of Ready Capital by 131.0% during the first quarter. Janus Henderson Group PLC now owns 168,496 shares of the real estate investment trust’s stock worth $1,539,000 after purchasing an additional 95,562 shares during the period. Jump Financial LLC grew its stake in shares of Ready Capital by 106.7% in the fourth quarter. Jump Financial LLC now owns 22,516 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 11,625 shares during the last quarter. Norden Group LLC increased its holdings in Ready Capital by 773.1% during the 1st quarter. Norden Group LLC now owns 128,163 shares of the real estate investment trust’s stock valued at $1,170,000 after purchasing an additional 113,484 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Ready Capital by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,300,267 shares of the real estate investment trust’s stock valued at $13,328,000 after purchasing an additional 30,730 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

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.