BTIG Research Begins Coverage on Ready Capital (NYSE:RC)

Research analysts at BTIG Research assumed coverage on shares of Ready Capital (NYSE:RC) in a report issued on Friday, StockNewsAPI reports. The brokerage set a “neutral” rating on the real estate investment trust’s stock.

Separately, LADENBURG THALM/SH SH cut Ready Capital from a “buy” rating to a “neutral” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ready Capital presently has a consensus rating of “Hold” and a consensus target price of $10.93.

Ready Capital Stock Down 0.1 %

Shares of NYSE:RC opened at $9.39 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 5.83 and a beta of 1.43. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.47. Ready Capital has a 12-month low of $7.93 and a 12-month high of $11.97. The business’s 50 day moving average is $8.50 and its 200 day moving average is $8.89.

Ready Capital (NYSE:RC) last announced its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $232.35 million for the quarter, compared to analysts’ expectations of $64.34 million. Ready Capital had a return on equity of 8.11% and a net margin of 23.81%. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts forecast that Ready Capital will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gilbert E. Nathan purchased 10,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $8.29 per share, with a total value of $82,900.00. Following the transaction, the director now directly owns 95,249 shares of the company’s stock, valued at $789,614.21. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.09% of the company’s stock.

Institutional Trading of Ready Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in RC. Waterfall Asset Management LLC bought a new stake in shares of Ready Capital during the 4th quarter valued at $40,067,000. Vanguard Group Inc. increased its stake in Ready Capital by 7.1% in the 4th quarter. Vanguard Group Inc. now owns 11,163,763 shares of the real estate investment trust’s stock worth $114,429,000 after acquiring an additional 735,949 shares during the last quarter. Wellington Management Group LLP bought a new position in Ready Capital in the 3rd quarter worth about $4,069,000. Clear Harbor Asset Management LLC increased its stake in Ready Capital by 63.1% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 782,785 shares of the real estate investment trust’s stock worth $6,403,000 after acquiring an additional 302,930 shares during the last quarter. Finally, Norden Group LLC increased its stake in Ready Capital by 773.1% in the 1st quarter. Norden Group LLC now owns 128,163 shares of the real estate investment trust’s stock worth $1,170,000 after acquiring an additional 113,484 shares during the last quarter. 55.87% of the stock is currently owned by institutional investors.

About Ready Capital

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.