UBS Group Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its target price decreased by equities researchers at UBS Group from $8.50 to $7.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective indicates a potential upside of 6.69% from the stock’s previous close.

RC has been the topic of a number of other reports. BTIG Research assumed coverage on Ready Capital in a report on Friday, July 19th. They set a “neutral” rating on the stock. Piper Sandler reduced their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Keefe, Bruyette & Woods reduced their price objective on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. Finally, Wedbush reissued a “neutral” rating and issued a $9.00 price target on shares of Ready Capital in a research note on Monday, August 12th. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.04.

Ready Capital Stock Performance

NYSE RC traded down $0.04 during midday trading on Friday, hitting $7.03. The company had a trading volume of 209,675 shares, compared to its average volume of 1,550,609. Ready Capital has a fifty-two week low of $6.65 and a fifty-two week high of $11.67. The company has a quick ratio of 1.69, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -10.04 and a beta of 1.42. The firm has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $8.16.

Hedge Funds Weigh In On Ready Capital

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Ready Capital by 45.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,226 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 112,811 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Ready Capital by 4.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 356,865 shares of the real estate investment trust’s stock valued at $2,723,000 after acquiring an additional 15,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ready Capital by 12.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,682 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 4,729 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Ready Capital by 198.8% during the third quarter. BNP Paribas Financial Markets now owns 97,837 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 65,098 shares during the period. Finally, Quantbot Technologies LP bought a new position in Ready Capital during the third quarter worth about $1,005,000. 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.