In a report issued on July 10, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Ready Capital (RC), with a price target of $9.00. The company’s shares closed last Friday at $8.02.
According to TipRanks.com, Hayes has 0 stars on 0-5 stars ranking scale with an average return of -11.1% and a 44.9% success rate. Hayes covers the Financial sector, focusing on stocks such as Broadmark Realty Capital, Cherry Hill Mortgage, and Ellington Financial.
Ready Capital has an analyst consensus of Strong Buy, with a price target consensus of $10.50.
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The company has a one-year high of $16.90 and a one-year low of $3.92. Currently, Ready Capital has an average volume of 690.7K.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RC in relation to earlier this year.
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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. The company operates in four segments: SBC Originations, SBA Originations, Acquisitions & Servicing, Loan Acquisitions and Residential Mortgage Banking. The SBC Originations segment originate SBC loans secured by stabilized or transitional investor properties using multiple loan origination channels through its wholly-owned subsidiary, ReadyCap Commercial, LLC. The SBA Originations, Acquisitions & Servicing segment acquires, originates and services owner-occupied loans guaranteed by the SBA its wholly-owned subsidiary, ReadyCap Lending, LLC. The Loan Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of its business strategy. The Residential Mortgage Banking segment through its wholly-owned subsidiary, GMFS, LLC originates residential mortgage loans eligible to be purchased, guaranteed or insured by Fannie Mae, Freddie Mac, FHA, USDA and VA through retail, correspondent and broker channels. Ready Capital was founded in 2011 and is headquartered in New York, NY.