Ready Capital (NYSE:RC) Raised to “Hold” at Zacks Research

Ready Capital (NYSE:RC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on RC. UBS Group reduced their price target on shares of Ready Capital from $2.50 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $2.62.

Ready Capital Trading Down 3.5%

Ready Capital stock opened at $1.53 on Tuesday. The stock has a market cap of $253.61 million, a P/E ratio of -0.48 and a beta of 1.45. 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 $1.39 and a 1 year high of $4.46. The firm’s 50 day moving average price is $1.65 and its 200-day moving average price is $1.77.

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

Institutional Investors Weigh In On Ready Capital

Several large investors have recently bought and sold shares of the business. Quarry LP lifted its position in Ready Capital by 4,494.6% during the third quarter. Quarry LP now owns 9,373 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 9,169 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Ready Capital in the 3rd quarter worth about $39,000. Franklin Resources Inc. purchased a new stake in shares of Ready Capital during the 3rd quarter valued at about $44,000. M&T Bank Corp purchased a new stake in shares of Ready Capital during the 2nd quarter valued at about $50,000. Finally, United Services Automobile Association bought a new position in shares of Ready Capital in the 1st quarter valued at about $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.