Ready Capital Corp

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: Acquisitions, SBC Originations, SBA Originations, Acquisitions & Servicing, and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company's business strategy. The SBC Originations segment originates 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 through its wholly-owned subsidiary, ReadyCap Lending LLC. 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. The company was founded in 2011 and is headquartered in New York, NY.

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Ready Capital Corp to acquire Broadmark, anticipates strong growth

Ready Capital Corp's Q4 2022 performance showcased strength in loan originations, credit quality, and strategic acquisitions.
The merger with Broadmark Realty Capital is poised to enhance earnings, reduce leverage, and generate expense synergies for the company.
Challenges include impacts on realized gains, lack of specific full-year origination outlook, and complexities in the Broadmark deal execution.
Opportunities lie in increased liquidity post-acquisition, growth in SBA lending, and capital redeployment for new CRE originations and acquisitions.

Ready Capital Corp reports resilient performance amidst CRE market challenges

Ready Capital Corp navigated challenges in the CRE market with strong performance in core originations and credit metrics.
Despite non-recurring impacts on earnings, the company remains well positioned to maintain dividends and achieve its ROE target.
Opportunities lie in maintaining strong credit metrics, exploring potential acquisitions, and focusing on growth in key market segments.
Analysts' questions covered a range of topics including CECL reserve releases, distributable earnings, and balance sheet strategies.

Ready Capital Corp reports strong Q2 performance and eyes growth opportunities

Ready Capital Corp's Q2 2023 performance showcased robust loan portfolio growth and competitive credit metrics.
The company's strengths lie in the successful Broadmark acquisition, distributable earnings, and limited defaults in multifamily loans.
Challenges include upcoming maturities, potential risks in multifamily bridge loans, and headwinds from the Broadmark deal.
Opportunities for growth include optimizing capital structure, exploring new acquisitions, and capitalizing on multifamily market stabilization.

Ready Capital Corp reports strong Q3 performance amidst market caution

Ready Capital Corp (RC) demonstrated strong performance with successful Broadmark integration and improved liquidity, despite challenges in the CRE market.
The company's focus on cost synergies, credit metrics strength, and strategic rebranding position it well for future growth opportunities.
While challenges like portfolio yield drag and market uncertainties exist, Ready Capital's adaptability and focus on strategic opportunities are key strengths.

Ready Capital Corp reports 8.6% ROE for 2023, eyes strategic refinancing and growth opportunities

Ready Capital Corp's performance in 2023 was impacted by M&A effects and underperformance in certain business segments, leading to a distributable ROE of 8.6%. Despite challenges in delinquencies, the company is strategically focused on refinancing, leveraging debt, and exiting underperforming sectors. Opportunities lie in CLO issuance, SBA vertical growth, and accretive impacts from the Broadmark transaction.

Ready Capital Corp reports Q3 losses but eyes CRE market growth

Ready Capital Corp's Q3 performance reflects challenges with losses but also strengths in small business lending and market positioning.
Strategic initiatives and a well-positioned CRE market offer growth opportunities despite short-term challenges.
The company's focus on high-growth areas and future earnings expectations signal a path towards long-term success and market competitiveness.
Navigating through challenges while capitalizing on opportunities will be crucial for Ready Capital Corp's future financial performance and growth.

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC. The Small Business Lending segment acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program through wholly-owned subsidiary, ReadyCap Lending, LLC. The Residential Mortgage Banking segment focuses on the residential mortgage loan origination segment through wholly-owned subsidiary, GMFS, LLC. The company was founded in November 2011 and is headquartered in New York, NY.

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Annaly Capital achieved top FFO ranking, AG mortgage had the top analyst target upside, and The GEO Group top yield out of 350 U.S. REITs per YCharts data 8/17/21. Top-10 net-gainers OHI, GLPI, ABR, SPG, STWD, TWO, RWT, MPW, NNN, and NRZ ranged 14.6%-34.39% 8/17/21. Top-30 US Hi-FFO REITs (priced over $5) by yield represented 6 of 9 REIT Industries.

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Is Ready Capital Corporation (RC) a great pick from the value investor's perspective right now? Read on to know more.

Is Ready Capital Corporation (RC) a Great Stock for Value Investors?

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Shares of Ready Capital (NYSE:RC) moved lower after the company reported Q2 results. Quarterly Results Earnings per share decreased 25.71% year over year to $0.52, which beat the estimate of $0.45.

Ready Capital: Q2 Earnings Insights

Ready Capital Corporation (RC) CEO Tom Capasse on Q2 2021 Results - Earnings Call Transcript

Ready Capital (RC) delivered earnings and revenue surprises of 20.93% and 33.75%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Ready Capital (RC) Beats Q2 Earnings and Revenue Estimates

NEW YORK, Aug. 5, 2021 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today reported financial results for the quarter ended June 30, 2021. Ready Capital reported U.S. GAAP Net income for the three months ended June 30, 2021, of $30.9 million, or $0.38 per share of common stock, and Distributable Earnings (a non-GAAP financial measure) of $41.4 million, or $0.52 per share of common stock.

Ready Capital Corporation Announces Second Quarter 2021 Results

NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital"), a multi-strategy real estate finance company that originates, acquires, finances and services commercial loans, today announced its acquisition of Red Stone and its affiliates ("Red Stone").  Red Stone is a real estate finance and investment company that provides innovative financial products and services to the multifamily affordable housing industry.

Ready Capital Announces Acquisition of Red Stone

Ready Capital (RC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Ready Capital (RC) Q2 Earnings Expected to Decline

NEW YORK, July 28, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its second quarter 2021 financial results before the New York Stock Exchange opens on Thursday, August 5, 2021.  Management will host a webcast and conference call on Thursday, August 5, 2021 at 8:30 a.m.

Ready Capital Corporation Announces Second Quarter 2021 Results And Webcast Call

RC has successfully liquidated $2B of Anworth agency RMBS and redeployed proceeds into more profitable loan origination pipelines. RC redeemed high coupon preferreds and bonds to save millions annually.

Ready Capital Is Firing On All Cylinders

NEW YORK, July 15, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the appointment of Adam Zausmer as Chief Credit Officer, effective immediately. "Adam's extensive knowledge and understanding of the commercial real estate markets as well as his disciplined approach to credit have contributed to Ready Capital's strong competitive position in the market," stated Ready Capital Chairman and Chief Executive Officer Thomas Capasse.

Ready Capital Corporation Appoints Adam Zausmer as Chief Credit Officer

NEW YORK, July 13, 2021 (GLOBE NEWSWIRE) -- Ready Capital announced growth in deal volume for its Bridge Lending business in the second quarter of 2021 with an increase of more than 22% over the first quarter's strong results. During the second quarter of 2021, Ready Capital closed more than 50 bridge loans totaling over $800 million, with a current pipeline of deals in the closing process going into the third quarter of approximately $600 million. The recent quarter's results build on the company's success during the first quarter, during which Ready Capital had closed 28 bridge loans totaling approximately $655 million in funding.

Ready Capital National Bridge Team Closes Over $800 Million in Second Quarter of 2021 and Approximately $1.5 Billion Year-to-Date

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Commercial Lender Builds on Q1 2021 Results with Funded and Firm in excess of $500MM Commercial Lender Builds on Q1 2021 Results with Funded and Firm in excess of $500MM

Ready Capital Announces Strong Q2 Results for Freddie Mac SBL & Small Bridge Business

NEW YORK, June 15, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced its intention to redeem all of its 8.625% Series B Cumulative Preferred Stock (CUSIP No. 75574U 507) (the "Series B Preferred Stock") and its 7.625% Series D Cumulative Redeemable Preferred Stock (CUSIP No.

Ready Capital Corporation Announces Intent to Redeem 8.625% Series B Cumulative Preferred Stock and 7.625% Series D Cumulative Redeemable Preferred Stock

NEW YORK, June 14, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.42 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2021. This dividend is payable on July 30, 2021 to shareholders of record as of the close of business on June 30, 2021.

Ready Capital Corporation Declares Second Quarter 2021 Dividends

NEW YORK, June 10, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it closed an underwritten public offering of 4,600,000 shares of its 6.50% Series E Cumulative Redeemable Preferred Stock, par value $0.0001 per share (the "Preferred Stock"), including 600,000 shares relating to the full exercise of the underwriters' over-allotment option, with a liquidation preference of $25.00 per share. The Company received net proceeds of approximately $111.4 million from the sale of the Preferred Stock after deducting the underwriting discounts but before estimated offering expenses payable by the Company.

Ready Capital Corporation Announces Closing of Public Offering of Preferred Stock and Full Exercise of Over-allotment Option

NEW YORK, June 3, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of 4,000,000 shares of its 6.50% Series E Cumulative Redeemable Preferred Stock (the "Preferred Stock") at a public offering price of $25.00 per share.  The Company also granted a 30-day over-allotment option to purchase up to an additional 600,000 shares of the Preferred Stock at the public offering price, less underwriting discounts and commissions.

Ready Capital Corporation Announces Pricing of Public Offering of Preferred Stock

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Ready Capital Announces Strong Q1 Results for Freddie Mac Business

Ready Capital's (RC) CEO Tom Capasse on Q1 2021 Results - Earnings Call Transcript

Ready Capital (RC) delivered earnings and revenue surprises of -6.82% and 8.29%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Ready Capital (RC) Q1 Earnings Miss Estimates

NEW YORK, May 6, 2021 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today reported financial results for the quarter ended March 31, 2021. Ready Capital reported U.S. GAAP Net income for the three months ended March 31, 2021, of $28.9 million, or $0.49 per share of common stock, and Distributable Earnings (a non-GAAP financial measure) of $24.7 million, or $0.41 per share of common stock.

Ready Capital Corporation Announces First Quarter 2021 Results

News for Ready Capital Corp Stock (RC)