Ready Capital Corp (NYSE:RC) Receives $2.81 Average Price Target from Brokerages

Ready Capital Corp (NYSE:RC) has received a consensus rating of “Reduce” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $2.8125.

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Piper Sandler cut their target price on Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd.

Ready Capital Stock Performance

RC stock opened at $1.71 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $281.70 million, a price-to-earnings ratio of -0.54 and a beta of 1.44. Ready Capital has a 1 year low of $1.50 and a 1 year high of $4.75. The stock’s fifty day moving average is $1.76 and its two-hundred day moving average is $1.96.

Ready Capital (NYSE:RC) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The company had revenue of $130.55 million during the quarter, compared to the consensus estimate of $68.67 million. Ready Capital had a negative net margin of 102.10% and a negative return on equity of 14.69%. On average, research analysts predict that Ready Capital will post -0.94 EPS for the current year.

Institutional Investors Weigh In On Ready Capital

Several institutional investors have recently bought and sold shares of RC. Sequoia Financial Advisors LLC acquired a new stake in Ready Capital in the fourth quarter worth about $27,000. Eurizon Capital SGR S.p.A. acquired a new stake in Ready Capital in the fourth quarter worth about $28,000. Austin Wealth Management LLC acquired a new stake in Ready Capital in the fourth quarter worth about $29,000. Green Ridge Wealth Planning LLC acquired a new stake in Ready Capital in the fourth quarter worth about $32,000. Finally, Huntington National Bank lifted its holdings in Ready Capital by 234.6% in the third quarter. Huntington National Bank now owns 8,749 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 6,134 shares during the period. Institutional investors and hedge funds own 55.87% of the company’s stock.

Ready Capital Company Profile

Ready Capital Corporation is a specialty finance real estate investment trust (REIT) that originates, acquires and manages commercial real estate loans and related assets. The company offers financing solutions across a variety of property types, including multifamily, office, retail, industrial, hospitality and mixed-use assets. Ready Capital focuses on delivering flexible loan structures to meet the diverse needs of borrowers in the small balance and middle-market sectors.

Through its small balance commercial real estate lending platform, Ready Capital provides loans typically ranging from $1 million to $15 million for acquisitions, refinancings, renovations and bridge financing.