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.

Earnings data Q1 2021

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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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AMN, RCM and RC have been added to the Zacks Rank #5 (Strong Sell) List on March 12, 2024.

New Strong Sell Stocks for March 12th

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9% Yield I Just Added To My Portfolio

Ready Capital Corporation (RC) Q4 2023 Earnings Call Transcript

What could be worse than two distribution cuts for Ready Capital? Would you believe that we may do a threepeat? The current distribution is not covered, and this quarter saw even more problems in the Broadmark loan book.

Ready Capital: Another Distribution Cut Looks Probable

While the top- and bottom-line numbers for Ready Capital (RC) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Ready Capital (RC) Reports Q4 Earnings: What Key Metrics Have to Say

-   GAAP EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $0.12   - -   DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.26   - -   DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 7.5%   - NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market (“LMM”) investor and owner occupied commercial real estate loans, today reported financial results for the quarter ended December 31, 2023. “We continue to make progress on our business strategy of repositioning the capital acquired in our merger with Broadmark Realty Capital into our core lending strategies despite current challenges in the commercial real estate sector,” said Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

Ready Capital Corporation Reports Fourth Quarter 2023 Results

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Prior to January 31, 2024 my REaders mentioned 37 equities in their comments on my articles. Some bad-news investments (ROgues) mixed with (mostly) FAvorites. Thus, these are ReFa/Ro. Ten analyst-target-estimated TOP-NET-GAIN Re/Fa/Ro: KVUE, PFE, TTE, DHT, F, EFC, EURN, RC, XOM, and ORC averaged 34.48% net gains from reader data collected 1/23/23. Ten analyst-target-augured January TOP-PRICE-UPSIDE reader favorites & rogues (ReFa/Ro) were: PFE, MMM, KMI, O, MDV, KVUE, EFC, ACRE, RC & ORC boasting a 29.93% average target price upside estimate.

January Readers Noted 30 Ideal-To-Buy Dividend Dogs

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Rates were down by less than a bunny's tail. REITs were hopping anyway. Higher rates are bad and all that jazz.

REITs Rip Higher As Rates Do Nothing

NEW YORK, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its fourth quarter and full year 2023 financial results after the New York Stock Exchange closes on Tuesday, February 27, 2024. Management will host a webcast and conference call on Wednesday, February 28, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter and year ended December 31, 2023.

Ready Capital Corporation Announces Fourth Quarter and Full Year 2023 Results and Webcast Call

Blue Owl Capital Corp

The Federal Reserve reimagined their goals to better match their chosen interest rate policy. Higher interest rates do not lead to a decrease in government spending. It would be cool if higher rates reduced deficits, but they don't. The free market is pretty good at responding to higher prices. It also responds to lower prices.

How The Federal Reserve Is Redefining Success

Despite huge dividend yields, this sector is getting hammered. Shares could achieve this upside even without trading at Net Asset Value. Another peer already saw a similar recovery.

13% Dividend Yield And 39% Upside

Mortgage REITs are not buy-and-hold investments and investors who focus solely on dividends are getting burned. Preferred shares offer better performance and stability compared to common shares in mortgage REITs. Equity REITs are also being negatively impacted, with investors seeking higher yields elsewhere.

More Pain For High Dividend REITs

AGNC Investment Corp - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int

AGNC Investment Corp. Deposit Shs Repr 1/1000th Cum Conv Red Pfd Registered Shs Series C

These fat dividends benefited from floating in one way or another. Many of them are more than 10%. Some shares start floating in 2024 or early 2025. Those shares aren't showing their floating yield yet, even though they will kick in soon. We also need to look at the change in valuations for some better companies.

How Floating Rate Shares Could Earn Over 10%

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High yield investors are focused on maintaining income. Many don't understand the scenario that would best support their income. We'll walk through the scenario for one popular kind of high yield investment.

Sweet Fantasy For High Dividend Yield Buyers

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Several high yielders are in danger. Some dividends are at risk. For others, it is primarily valuation. Why is taking gains so unpopular?

12% To 18% Dividend Yields In Danger

Invesco KBW Premium Yield Equity REIT ETF

Big dividend yields? Yes. But that's not enough. One of the ETFs we love smashing seems to be struggling. Maybe buying yield blindly isn't a great technique. When you're investing, you need to start looking at relative values.

Big Yields Meet Big Trouble

NEW YORK, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital”), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today announced its Affordable Multifamily division, formerly known as Red Stone, hit record volumes of approximately $1.1 billion in 2023, up more than 25% year-over-year.

Ready Capital Exceeds $1 Billion in Affordable Multifamily Loan Closings During 2023

Arlington Asset Investment

We take a look at the action in preferreds and baby bonds through the third week of December and highlight some of the key themes we are watching. Preferreds rallied as Treasury yields fell, bringing year-to-date total return to around 9%. AAIC announced plans to delist and deregister its two baby bonds, citing compliance costs outweighing benefits.

Preferreds Weekly Review: AAIC Delists Its Bonds

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Select real estate may be the income investing play for 2024. As I write, seven real estate investment trusts (REITs) are dishing dividends from 8.7% all the way up to 15.4%.

This Real Estate Portfolio Yields More Than 12%

Ready Capital has cut its dividend for the second consecutive time to $0.30 per share. The mREIT currently offers a fat 11% dividend yield and is now trading at a 24% discount to its third-quarter book value of $14.42 per share. Distributable EPS of $0.28 means that the rightsized dividend is still not covered.

Ready Capital: Two Dividend Cuts Later And The Broadmark Acquisition Stings

Ready Capital and New York Mortgage Trust both reduced their dividends, surprising investors. Fixed-to-floating preferred shares are experiencing large rallies as investors anticipate dividend increases. Treasury yields have fallen, leading to higher values for REITs, other stocks, and just about everything.

High Dividend Yields And Quick Notes

Ready Capital showed that it was once again ready to cut its distribution, should the occasion call for it. Q3-2023 results showed that the occasion did indeed call for it. We break down the recent results and show how the company is facing high levels of stress on Broadmark's acquired portfolio.

Ready Capital: Distribution Cut Should Be Lauded

NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2023. This dividend is payable on January 31, 2024, to shareholders of record as of the close of business on December 29, 2023.

Ready Capital Corporation Declares Fourth Quarter 2023 Dividends

NEW YORK, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (“Ready Capital”), a multi-strategy real estate finance company that originates, acquires, finances, and services small- to medium-sized balance commercial loans, today announced they are furthering their partnership with Esusu by donating to the Stable Home Fund. Esusu is the leading financial technology company that leverages rent reporting for credit building.

Ready Capital Expands Partnership with Esusu, Donates to the Stable Home Fund

Each share has a yield of at least 12%, or will after the call date passes. Most are common shares, including one I haven't published anything positive about in a very long time. Discount to book value is a huge factor in evaluating the potential upside. We want shares that can see prices rally in addition to a big yield.

12% Yield Or Greater Plus Upside

News for Ready Capital Corp Stock (RC)