Ready Capital Corp (NYSE:RC) shares saw an uptick in trading volume on Wednesday . 386,520 shares changed hands during mid-day trading, an increase of 368% from the previous session’s volume of 82,607 shares.The stock last traded at $16.27 and had previously closed at $16.24.
Several research analysts have recently issued reports on the company. Compass Point lowered Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 price target on the stock. in a research report on Friday, November 8th. Zacks Investment Research upgraded Ready Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Cantor Fitzgerald cut their target price on Ready Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a research note on Tuesday, September 3rd. Finally, TheStreet upgraded Ready Capital from a “c” rating to a “b-” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.63.
The firm’s 50 day moving average is $15.91 and its two-hundred day moving average is $15.30. The firm has a market cap of $731.97 million, a P/E ratio of 9.24 and a beta of 0.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.53.
Ready Capital (NYSE:RC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The firm had revenue of $20.33 million during the quarter, compared to the consensus estimate of $20.75 million. Ready Capital had a net margin of 26.39% and a return on equity of 8.19%. Analysts predict that Ready Capital Corp will post 1.55 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY acquired a new stake in Ready Capital during the 1st quarter worth approximately $90,000. First Trust Advisors LP bought a new stake in Ready Capital in the 1st quarter valued at $795,000. Nisa Investment Advisors LLC lifted its position in Ready Capital by 422.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,282 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 8,314 shares in the last quarter. AE Wealth Management LLC acquired a new position in Ready Capital in the 2nd quarter worth $319,000. Finally, Strs Ohio boosted its stake in Ready Capital by 69.4% in the 2nd quarter. Strs Ohio now owns 8,300 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 3,400 shares during the period. 39.84% of the stock is currently owned by institutional investors and hedge funds.
About Ready Capital (NYSE:RC)
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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