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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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.

NEW YORK, Dec. 21, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it closed an underwritten public offering of $110.00 million aggregate principal amount of  5.50% senior unsecured notes due 2028 (the "Notes"). The Company intends to use the net proceeds from this offering to originate or acquire additional mortgage loans and mortgage-related assets consistent with its investment strategy and for general business purposes.

Ready Capital Corporation Announces Closing of Public Sale of Senior Notes Due 2028

NEW YORK, Dec. 16, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of $110.00 million aggregate principal amount of  5.50% senior unsecured notes due 2028. The Company intends to use the net proceeds from this offering to originate or acquire additional mortgage loans and mortgage-related assets consistent with its investment strategy and for general business purposes.

Ready Capital Corporation Announces Pricing of Public Offering of Senior Notes Due 2028

NEW YORK, Dec. 16, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it is commencing an underwritten public offering of senior unsecured notes due 2028. The Company intends to use the net proceeds from this offering to originate or acquire additional mortgage loans and mortgage-related assets consistent with its investment strategy and for general business purposes.

Ready Capital Corporation Announces Public Offering of Senior Notes Due 2028

NEW YORK, Dec. 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 December 31, 2021. This dividend is payable on January 31, 2022 to shareholders of record as of the close of business on December 31, 2021.

READY CAPITAL CORPORATION DECLARES FOURTH QUARTER 2021 DIVIDENDS

NEW YORK, Dec. 13, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the closing for the acquisition, renovation, and stabilization of a five-property, 1,070-unit, garden style, multifamily portfolio located across multiple submarkets of the Dallas-Fort Worth metropolitan statistical area (MSA). This transaction is the largest of several notable Bridge deals closed by Ready Capital's Bridge team during 2021.

Ready Capital Closes Five-Property Multifamily Bridge Loan

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NEW YORK, Dec. 6, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the addition of Richard Katzenstein and Alex Ovalle as Managing Directors and members of the senior leadership team, both reporting to CEO Tom Capasse.   Richard Katzenstein joins as Head of Strategic Partnerships charged with increasing commercial real estate lending volume through a variety of existing and newly formed strategic partner relationships and strengthening loan sourcing channels.

Ready Capital Corporation Adds Managing Directors to Drive Continued Growth

Ready Capital specializes in small to medium sized balance commercial loans and SBA loans, which is reflected through its diversified portfolio. The company announced a stock-for-stock merger proposal to acquire Mosaic Real Estate Credit, its sixth M&A transaction since 2016 and third within the past year.

Ready Capital: Strong And Steady Growth With An Eye For M&A

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Ready Capital Corporation (NYSE: RC) and a series of privately held, real estate structured finance opportunities funds managed by MREC Management, LLC is fair to Ready Capital shareholders. Upon closing of the merger, Ready Capital stockholders are expected to own approximately 70% of the combined company's stock. Halper Sadeh encourages Ready Capital shareholders to click her

Ready Capital Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Merger of Ready Capital Corporation Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – RC

NEW YORK, Nov. 15, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the pricing of a $927.2 million commercial mortgage collateralized loan obligation ("CRE CLO") transaction with the limited right to acquire all or part of $135.2 million in future funding participation interests. Moody's Investor Service, Inc. ("Moody's") and DBRS, Inc. ("DBRS") assigned a "AAA" rating, to the senior most certificates, with DBRS providing ratings to the remaining classes of the transaction.

Ready Capital Corporation Announces Pricing of RCMF 2021-FL7, a Securitization of $927.2 Million in Bridge Loans

Ready Capital (RC) possesses solid growth attributes, which could help it handily outperform the market.

3 Reasons Why Growth Investors Shouldn't Overlook Ready Capital (RC)

NEW YORK, Nov. 8, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced more than $725 million in closed bridge lending for its National Bridge Lending Platform. During the third quarter, Ready Capital closed more than 50 bridge loans totaling in excess of $725 million, with more than $2.2 billion closed through the end of the quarter and a positive forward-looking pipeline for Q4.

Ready Capital Closes in Excess of $725 Million in Bridge Financing During Third Quarter, More Than $2.2 Billion Year-to-Date

Ready Capital's (RC) CEO Tom Capasse on Q3 2021 Results - Earnings Call Transcript

NEW YORK, Nov. 4, 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 September 30, 2021. "The strength of originations and earnings from the first half of the year continued to accelerate through the third quarter.

Ready Capital Corporation Reports Third Quarter 2021 Results

NEW YORK, Nov. 4, 2021 /PRNewswire/ -- 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, announced today that it has entered into a definitive merger agreement pursuant to which Ready Capital has agreed to acquire a series of privately held, real estate structured finance opportunities funds, with a focus on construction lending, managed by MREC Management, LLC (the "Mosaic Manager"). Following the mergers, Ready Capital is expected to have a pro forma equity capital base in excess of $1.7 billion.

Ready Capital Announces Merger Transaction

NEW YORK, Oct. 29, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its third quarter 2021 financial results after the New York Stock Exchange opens on Thursday, November 4, 2021.  Management will host a webcast and conference call on Friday, November 5, 2021 at 8:30 a.m.

Ready Capital Corporation Announces Third Quarter 2021 Results And Webcast Call

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) Q3 Earnings Expected to Decline

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NEW YORK, Oct. 20, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that ReadyCap Holdings, LLC ("ReadyCap"), an indirect subsidiary of the Company closed a private placement of $350.0 million in aggregate principal amount of its 4.50% Senior Secured Notes due 2026 (the "Notes").  The Notes are senior secured obligations of ReadyCap.

Ready Capital Corporation Announces Closing of $350.0 Million of Senior Secured Notes

NEW YORK, Oct. 14, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that the Company has surpassed $1 billion in SBA 7(a) Loans since it began issuing these loans under this government sponsored program. Ready Capital has grown to become the second-largest non-bank SBA lender in the United States.

Ready Capital Corporation Surpasses $1 Billion in SBA Loans

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- Waterfall Asset Management, LLC ("Waterfall"), an SEC-registered investment adviser headquartered in New York, has been named among Inc.'s 2021 list of founder-friendly private equity and venture capital investors. Waterfall utilizes a thematic approach to investing in structured credit, loan products and private equity, and invests across multiple sectors of the specialty finance and financial technology industries.

Waterfall Asset Management Named in Inc.'s 2021 List of Founder-Friendly Investors

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- Peaks Strategies, a specialist financial services PR consultancy, today announced further growth fueled by new clients and a Senior Associate addition to the team. Peaks Strategies was recently named agency of record for Ready Capital, a multi-strategy real estate finance company (NYSE: RC).

Peaks Strategies Announces Further Growth With Client Wins, Team Expansion

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NEW YORK, Sept. 15, 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 September 30, 2021.

Ready Capital Corporation Declares Third Quarter 2021 Dividends

NEW YORK, Sept. 2, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the closing of a $652.5 million commercial mortgage collateralized loan obligation ("CRE CLO") with the limited right to acquire all or part of $87.8 million in future funding participation interests.

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