Ready Capital (NYSE:RC) PT Lowered to $10.00 at BTIG Research

Ready Capital (NYSE:RC) had its price target decreased by research analysts at BTIG Research from $12.00 to $10.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective indicates a potential upside of 17.10% from the company’s previous close.

Other analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group lowered their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, StockNews.com cut Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.93.

Ready Capital Stock Performance

Shares of Ready Capital stock traded up $0.21 on Wednesday, reaching $8.54. 989,456 shares of the company were exchanged, compared to its average volume of 1,441,751. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. The company’s 50-day moving average is $8.86 and its two-hundred day moving average is $9.64. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 3.63 and a beta of 1.40. Ready Capital has a 1-year low of $8.25 and a 1-year high of $11.97.

Insider Buying and Selling at Ready Capital

In related news, Director Kevin M. Luebbers acquired 5,000 shares of Ready Capital stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the purchase, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kevin M. Luebbers acquired 5,000 shares of Ready Capital stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $8.43 per share, with a total value of $42,150.00. Following the purchase, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert E. Nathan acquired 10,000 shares of Ready Capital stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $8.65 per share, with a total value of $86,500.00. Following the completion of the purchase, the director now owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 17,150 shares of company stock valued at $148,280. 0.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ready Capital

Several large investors have recently modified their holdings of the stock. Pathstone Family Office LLC raised its holdings in shares of Ready Capital by 4.0% during the fourth quarter. Pathstone Family Office LLC now owns 21,232 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 811 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Ready Capital by 8.8% during the fourth quarter. Teacher Retirement System of Texas now owns 11,383 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 918 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Ready Capital by 8.0% during the fourth quarter. CIBC Asset Management Inc now owns 12,560 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 935 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Ready Capital by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 11,796 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,007 shares in the last quarter. Finally, American International Group Inc. raised its holdings in Ready Capital by 2.8% during the second quarter. American International Group Inc. now owns 39,633 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 1,090 shares in the last quarter. 55.87% of the stock is owned by institutional investors.

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.