Ready Capital (NYSE:RC) Raised to “Hold” at UBS Group

Ready Capital (NYSE:RC) was upgraded by equities research analysts at UBS Group to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on RC. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research note on Tuesday, June 2nd. Zacks Research cut shares of Ready Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Three investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ready Capital has an average rating of “Reduce” and a consensus price target of $2.62.

Ready Capital Stock Performance

NYSE RC opened at $1.55 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.60 and a quick ratio of 1.60. Ready Capital has a 1-year low of $1.50 and a 1-year high of $4.58. The business has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.83. The stock has a market capitalization of $256.92 million, a PE ratio of -0.49 and a beta of 1.43.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RC. Quarry LP boosted its stake in shares of Ready Capital by 4,494.6% during the 3rd quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 9,169 shares during the period. Ausdal Financial Partners Inc. bought a new stake in Ready Capital in the third quarter worth about $39,000. Franklin Resources Inc. purchased a new position in shares of Ready Capital during the third quarter valued at approximately $44,000. M&T Bank Corp bought a new position in shares of Ready Capital during the second quarter valued at approximately $50,000. Finally, United Services Automobile Association purchased a new stake in shares of Ready Capital in the first quarter worth approximately $59,000. Institutional investors 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.