Ready Capital Corp (NYSE:RC) saw unusually-high trading volume on Wednesday . Approximately 386,520 shares changed hands during trading, an increase of 368% from the previous session’s volume of 82,607 shares.The stock last traded at $16.27 and had previously closed at $16.24.
RC has been the subject of a number of research reports. Compass Point lowered Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 price objective for the company. in a research report on Friday, November 8th. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Cantor Fitzgerald lowered their price objective on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a research report on Tuesday, September 3rd. Finally, TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Ready Capital has a consensus rating of “Hold” and a consensus price target of $16.63.
The firm has a market cap of $731.97 million, a P/E ratio of 9.24 and a beta of 0.67. The company has a 50 day moving average of $15.91 and a 200 day moving average of $15.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37.
Ready Capital (NYSE:RC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $20.33 million for the quarter, compared to the consensus estimate of $20.75 million. Ready Capital had a net margin of 26.39% and a return on equity of 8.19%. As a group, analysts expect that Ready Capital Corp will post 1.55 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ready Capital by 561.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 2,626 shares during the last quarter. Bank of Montreal Can lifted its position in Ready Capital by 189.6% during the 2nd quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 2,624 shares during the last quarter. Motco bought a new stake in Ready Capital during the second quarter valued at about $65,000. BNP Paribas Arbitrage SA bought a new stake in Ready Capital during the second quarter valued at about $68,000. Finally, Metropolitan Life Insurance Co NY acquired a new stake in shares of Ready Capital in the first quarter valued at about $90,000. Institutional investors and hedge funds own 39.84% of the company’s stock.
Ready Capital Company Profile (NYSE:RC)
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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