Keefe, Bruyette & Woods Lowers Ready Capital (NYSE:RC) Price Target to $12.00

Ready Capital (NYSE:RC – Get Rating) had its price objective lowered by analysts at Keefe, Bruyette & Woods from $13.00 to $12.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 22.08% from the company’s previous close.

RC has been the topic of several other reports. UBS Group raised their price objective on shares of Ready Capital from $11.00 to $11.50 and gave the stock a “neutral” rating in a research report on Wednesday, December 21st. Piper Sandler lowered their price objective on shares of Ready Capital from $13.00 to $12.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 28th. Raymond James raised their price objective on shares of Ready Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. BTIG Research lowered their target price on shares of Ready Capital to $15.50 in a report on Tuesday, November 15th. Finally, StockNews.com raised shares of Ready Capital from a “sell” rating to a “hold” rating in a report on Thursday, November 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.93.

Ready Capital Stock Performance

Shares of RC stock opened at $9.83 on Tuesday. The firm has a market cap of $1.09 billion, a P/E ratio of 5.78 and a beta of 1.37. Ready Capital has a one year low of $9.69 and a one year high of $15.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s 50 day moving average price is $12.19 and its 200-day moving average price is $12.14.

Ready Capital (NYSE:RC – Get Rating) last posted its earnings results on Monday, February 27th. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The firm had revenue of $249.49 million for the quarter, compared to the consensus estimate of $73.45 million. Ready Capital had a net margin of 27.22% and a return on equity of 11.52%. As a group, equities research analysts predict that Ready Capital will post 1.6 EPS for the current year.

Insiders Place Their Bets

In other Ready Capital news, Director Dominique Mielle bought 7,500 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were bought at an average cost of $14.15 per share, with a total value of $106,125.00. Following the completion of the acquisition, the director now owns 35,988 shares of the company’s stock, valued at $509,230.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gilbert E. Nathan purchased 5,000 shares of the stock in a transaction dated Tuesday, March 7th. The stock was acquired at an average price of $10.95 per share, for a total transaction of $54,750.00. Following the completion of the transaction, the director now owns 56,565 shares of the company’s stock, valued at $619,386.75. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dominique Mielle purchased 7,500 shares of the stock in a transaction dated Friday, March 3rd. The shares were purchased at an average price of $14.15 per share, with a total value of $106,125.00. Following the transaction, the director now directly owns 35,988 shares of the company’s stock, valued at approximately $509,230.20. The disclosure for this purchase can be found here. 1.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ready Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. purchased a new stake in Ready Capital during the second quarter valued at about $5,702,000. Teacher Retirement System of Texas purchased a new stake in Ready Capital during the third quarter valued at about $106,000. Global Retirement Partners LLC purchased a new stake in shares of Ready Capital in the third quarter worth approximately $89,000. Bayesian Capital Management LP lifted its position in shares of Ready Capital by 11.6% in the third quarter. Bayesian Capital Management LP now owns 14,430 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of Ready Capital by 50.8% in the third quarter. Texas Permanent School Fund now owns 73,050 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 24,613 shares in the last quarter. Institutional investors own 62.84% of the company’s stock.

Ready Capital Company Profile

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: Acquisitions, SBC Originations, SBA Originations, Acquisitions & Servicing, and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.