LADENBURG THALM/SH SH Downgrades Ready Capital (NYSE:RC) to Neutral

Ready Capital (NYSE:RC) was downgraded by equities researchers at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. UBS Group lowered their price objective on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, March 20th. B. Riley reiterated a “buy” rating and issued a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (down from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, BTIG Research reduced their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.93.

Ready Capital Price Performance

RC stock opened at $8.66 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 3.70 and a beta of 1.41. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. Ready Capital has a 52-week low of $8.25 and a 52-week high of $11.97. The stock’s fifty day simple moving average is $8.74 and its 200-day simple moving average is $9.48.

Ready Capital (NYSE:RC) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Ready Capital had a return on equity of 7.99% and a net margin of 35.69%. The firm had revenue of $232.35 million for the quarter, compared to the consensus estimate of $64.34 million. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts expect that Ready Capital will post 1.22 EPS for the current year.

Insider Transactions at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of Ready Capital stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the acquisition, the director now owns 83,099 shares of the company’s stock, valued at approximately $718,806.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kevin M. Luebbers acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average cost of $8.43 per share, with a total value of $42,150.00. Following the completion of the acquisition, the director now directly owns 119,925 shares in the company, valued at $1,010,967.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, for a total transaction of $86,500.00. Following the purchase, the director now directly owns 83,099 shares of the company’s stock, valued at $718,806.35. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 17,150 shares of company stock valued at $148,280. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Ready Capital

Institutional investors have recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in shares of Ready Capital during the 4th quarter worth approximately $30,000. EdgeRock Capital LLC bought a new stake in Ready Capital in the fourth quarter valued at $36,000. MCF Advisors LLC acquired a new position in shares of Ready Capital during the first quarter valued at $42,000. Allspring Global Investments Holdings LLC grew its position in shares of Ready Capital by 112.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,645 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 4,039 shares during the last quarter. Finally, Naviter Wealth LLC acquired a new stake in shares of Ready Capital in the 1st quarter worth about $94,000. 55.87% of the stock is currently 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.