Keefe, Bruyette & Woods Has Lowered Expectations for Ready Capital (NYSE:RC) Stock Price

Ready Capital (NYSE:RC) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $6.75 to $6.25 in a report released on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 6.30% from the stock’s previous close.

RC has been the topic of several other reports. UBS Group lowered their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Piper Sandler lowered their target price on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. JMP Securities reduced their price target on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating for the company in a research report on Thursday, December 12th. Finally, B. Riley reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.61.

Ready Capital Stock Up 0.8 %

Shares of Ready Capital stock opened at $6.67 on Tuesday. The firm has a market cap of $1.12 billion, a PE ratio of -9.53 and a beta of 1.43. Ready Capital has a 52-week low of $6.45 and a 52-week high of $10.02. The business’s 50 day simple moving average is $7.16 and its 200 day simple moving average is $7.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67.

Institutional Investors Weigh In On Ready Capital

Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV boosted its holdings in shares of Ready Capital by 64.1% during the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,248 shares during the period. Xponance Inc. acquired a new stake in Ready Capital during the 2nd quarter worth approximately $84,000. Choreo LLC bought a new stake in Ready Capital in the 2nd quarter valued at $91,000. Modera Wealth Management LLC acquired a new position in Ready Capital in the 3rd quarter valued at $107,000. Finally, Fisher Asset Management LLC acquired a new position in Ready Capital in the 3rd quarter valued at $116,000. 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.