Piper Sandler Cuts Ready Capital (NYSE:RC) Price Target to $2.00

Ready Capital (NYSE:RC) had its price objective decreased by Piper Sandler from $2.50 to $2.00 in a research note issued to investors on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Ready Capital in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their target price on Ready Capital from $3.50 to $2.50 and set an “underperform” rating on the stock in a report on Wednesday, November 12th. Finally, UBS Group decreased their price target on Ready Capital from $3.50 to $2.75 and set a “neutral” rating on the stock in a research report on Friday, November 14th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Ready Capital has a consensus rating of “Reduce” and an average target price of $2.81.

Ready Capital Stock Performance

Shares of NYSE:RC opened at $2.08 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.48 and a quick ratio of 1.56. The business’s fifty day moving average price is $2.04 and its two-hundred day moving average price is $2.85. Ready Capital has a fifty-two week low of $1.55 and a fifty-two week high of $5.47. The stock has a market capitalization of $338.79 million, a price-to-earnings ratio of -1.41 and a beta of 1.45.

Ready Capital (NYSE:RC) last issued its earnings results on Thursday, February 26th. The real estate investment trust reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. The company had revenue of $207.55 million for the quarter, compared to the consensus estimate of $133.50 million. Ready Capital had a negative net margin of 39.55% and a negative return on equity of 10.29%. As a group, analysts predict that Ready Capital will post 0.93 EPS for the current fiscal year.

Ready Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.9%. The ex-dividend date was Wednesday, December 31st. Ready Capital’s payout ratio is -2.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RC. Private Management Group Inc. raised its position in shares of Ready Capital by 197.0% during the fourth quarter. Private Management Group Inc. now owns 4,806,088 shares of the real estate investment trust’s stock worth $10,477,000 after acquiring an additional 3,188,135 shares during the last quarter. UBS Group AG increased its position in Ready Capital by 161.4% in the fourth quarter. UBS Group AG now owns 3,155,403 shares of the real estate investment trust’s stock worth $6,879,000 after purchasing an additional 1,948,208 shares during the period. Marshall Wace LLP bought a new stake in Ready Capital during the 2nd quarter worth about $6,542,000. Invesco Ltd. raised its holdings in Ready Capital by 21.2% during the 3rd quarter. Invesco Ltd. now owns 4,239,678 shares of the real estate investment trust’s stock worth $16,408,000 after purchasing an additional 742,226 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Ready Capital by 116.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 771,379 shares of the real estate investment trust’s stock valued at $1,682,000 after purchasing an additional 415,054 shares during the period. 55.87% of the stock is currently owned by institutional investors.

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.