Ready Capital (NYSE:RC) Upgraded by UBS Group to Hold Rating

Ready Capital (NYSE:RC) was upgraded by research analysts at UBS Group to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

RC has been the topic of a number of other research reports. Zacks Research lowered shares of Ready Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ready Capital in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $2.62.

Ready Capital Trading Down 5.2%

Shares of NYSE RC opened at $1.55 on Thursday. Ready Capital has a twelve month low of $1.50 and a twelve month high of $4.58. The stock has a market cap of $256.92 million, a price-to-earnings ratio of -0.49 and a beta of 1.43. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average is $1.72 and its 200-day moving average is $1.83.

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

Hedge Funds Weigh In On Ready Capital

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in shares of Ready Capital during the 4th quarter worth approximately $27,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Ready Capital in the fourth quarter worth $28,000. Austin Wealth Management LLC acquired a new position in Ready Capital during the fourth quarter worth $29,000. Green Ridge Wealth Planning LLC acquired a new position in Ready Capital during the fourth quarter worth $32,000. Finally, Allworth Financial LP boosted its holdings in Ready Capital by 354.5% during the fourth quarter. Allworth Financial LP now owns 16,380 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 12,776 shares during the last quarter. 55.87% of the stock is owned by institutional investors.

About Ready Capital

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.