Ready Capital (NYSE:RC) Stock Rating Reaffirmed by Wedbush

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

RC has been the topic of several other reports. BTIG Research started coverage on shares of Ready Capital in a report on Friday, July 19th. They set a “neutral” rating on the stock. LADENBURG THALM/SH SH lowered Ready Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital has an average rating of “Hold” and an average target price of $10.04.

Ready Capital Stock Performance

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

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

Insiders Place Their Bets

In other Ready Capital news, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction that occurred on Friday, May 24th. The shares were acquired 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 directly owns 95,249 shares of the company’s stock, valued at approximately $789,614.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Ready Capital by 94.6% during the second quarter. CWM LLC now owns 3,361 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,634 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Ready Capital in the 4th quarter worth about $36,000. EntryPoint Capital LLC bought a new position in Ready Capital in the first quarter valued at about $40,000. MCF Advisors LLC acquired a new stake in shares of Ready Capital during the first quarter valued at about $42,000. Finally, Cadence Bank bought a new stake in shares of Ready Capital during the first quarter worth about $91,000. 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.