Ready Capital (NYSE:RC- Get a rating) saw its target price lowered by analysts at JMP Securities from $18.00 to $16.00 in a research report released Wednesday to clients and investors, Benzinga reports. The company currently has a “market outperform” rating on shares of the real estate investment trust. JMP Securities’ price target would suggest a potential upside of 20.75% from the company’s current price.
RC has been the subject of a number of other reports. Piper Sandler cut her price target on shares of Ready Capital from $16.00 to $14.00 and set a “neutral” rating on the stock in a Tuesday, June 28 report. TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a Monday, August 15 report. Two analysts rated the stock with a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.50.
Performance of loan capital stock
NYSE:RC opened at $13.25 on Wednesday. The company has a debt ratio of 0.55, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market capitalization of $1.52 billion, a P/E ratio of 5.54 and a beta of 1.13. The company has a 50-day moving average price of $13.11 and a 200-day moving average price of $14.09. Ready Capital has a fifty-two week low of $11.05 and a fifty-two week high of $16.56.
In other news, Chief Financial Officer Andrew Ahlborn sold 3,035 shares of Ready Capital in a trade dated Monday August 29. The shares were sold at an average price of $13.80, for a total value of $41,883.00. Following the sale, the CFO now owns 51,430 shares of the company, valued at $709,734. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders own 1.64% of the shares of the company.
Ready Capital Institutional Trading
A number of institutional investors have recently increased or reduced their stake in the stock. BlackRock Inc. increased its stake in Ready Capital by 10.1% during the first quarter. BlackRock Inc. now owns 11,901,911 shares of the real estate investment trust worth $179,243,000 after purchasing an additional 1,094,189 shares in the last quarter. Vanguard Group Inc. increased its position in Ready Capital by 15.4% during the first quarter. Vanguard Group Inc. now owns 4,519,937 shares of the real estate investment trust worth $68,071,000 after acquiring an additional 604,296 shares in the last quarter. State Street Corp raised its position in Ready Capital by 8.1% in the second quarter. State Street Corp now owns 2,676,031 shares of the real estate investment trust worth $33,000,000 after acquiring 201,096 additional shares in the last quarter. Invesco Ltd. raised its position in Ready Capital by 42.2% during the first quarter. Invesco Ltd. now owns 2,603,750 shares of the real estate investment trust worth $39,211,000 after acquiring an additional 772,522 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in Ready Capital during the second quarter worth approximately $23,905,000. Hedge funds and other institutional investors own 56.17% of the company’s shares.
About Ready Capital
Ready Capital Corporation operates as a real estate finance company in the United States. The Company acquires, originates, services, services and funds low-to-mid-balance commercial loans (SBCs), small business administration loans (SBAs), residential mortgage loans and mortgage-backed securities secured primarily by SBC loans or other real estate. investments.
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