Ready Capital (RC) Company Overview

NEW YORK, Jan. 16, 2025 (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 investor- and owner-occupied commercial real estate loans, today announced that its Board of Directors approved a stock repurchase program authorizing the repurchase of up to $150.0 million of the Company's common stock. Repurchases under the stock repurchase program may be made at management's discretion from time to time on the open market, in privately negotiated transactions or otherwise, in each case subject to compliance with all Securities and Exchange Commission rules and other legal requirements, and may be made in part under one or more Rule 10b5-1 and Rule 10b-18 plans, which permit stock repurchases at times when the Company might otherwise be precluded from doing so.

NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2024. This dividend is payable on January 31, 2025, to shareholders of record as of the close of business on December 31, 2024.

NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it closed an underwritten public offering of $130 million aggregate principal amount of 9.00% Senior Notes due 2029 (the “Notes”), including $15 million aggregate principal amount relating to the partial exercise of the underwriters' over-allotment option. The Notes were issued in minimum denominations and integral multiples of $25.00. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC served as book-running managers for the offering.

Ready Capital's Q3 2024 showed another decrease in book value. Q3 2024 actually had negative distributable earnings. The company made an acquisition and offered to place debt at a 9% yield.

Ready Capital Corporation (NYSE:RC ) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Office Thomas Capasse - Chief Executive Officer Andrew Ahlborn - Chief Credit Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Douglas Harter - UBS Jade Rahmani - KBW Stephen Laws - Raymond James Christopher Nolan - Landenburg Thalmann Matt Howlett - B. Riley Securities Operator Greetings, and welcome to the Ready Capital Third Quarter 2024 Earnings Call.

Ready Capital (RC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.28 per share a year ago.

Investors need to pay close attention to Ready Capital (RC) stock based on the movements in the options market lately.

NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended September 30, 2024. This dividend is payable on October 31, 2024, to shareholders of record as of the close of business on September 30, 2024.

Ready Capital Corporation reported terrible Q2 2024 numbers. The distributable earnings were down to just 7 cents. But the stock did not react negatively, and we go over why we think that is.