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.

NEW YORK, Feb. 27, 2023 (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 small-to-medium balance commercial loans, today reported financial results for the quarter ended December 31, 2022.

Ready Capital Corporation Reports Fourth Quarter 2022 Results

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NEW YORK, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will host a webcast and conference call at 8:00 a.m. Eastern Time on Monday, February 27, 2023 to provide a general business update and discuss the financial results for the quarter ended December 31, 2022. The Company plans to release its financial results prior to the opening of the New York Stock Exchange.

Ready Capital Corporation Announces Fourth Quarter and Full Year 2022 Results and Webcast Call

Ready Capital just cut its quarterly dividend payout to its common shareholders by nearly 5% on the back of interest rate financing pressure. However, the cut was lower than some expected as the mortgage REIT continues to navigate a rising interest rate environment.

Ready Capital: The 12.4% Yield Is Still Exciting

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Mortgage rates have surged significantly this year, especially in recent quarters, causing market upheaval. Due to these obstacles, we doubted Ready Capital Corporation's short-term success in our prior piece.

Ready Capital Corporation: Strategically Positioned To Weather The Storms

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Ready Capital: Robust 12.86% Yield With 32% Potential Margin Of Safety

NEW YORK , Dec. 15, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2022. This dividend is payable on January 31, 2023, to shareholders of record as of the close of business on December 30, 2022, which is the effective record date since December 31, 2022, is not a business day.

READY CAPITAL CORPORATION DECLARES FOURTH QUARTER 2022 DIVIDENDS

Ready Capital Corporation (NYSE:RC ) Q3 2022 Earnings Conference Call November 8, 2022 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Officer Tom Capasse - Chief Executive Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Stephen Laws - Raymond James Steven DeLaney - JMP Securities Christopher Nolan - Ladenburg Thalmann Crispin Love - Piper Sandler Jade Rahmani - KBW Eric Hagen - BTIG Operator Greetings, and welcome to the Ready Capital Corporation Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Ready Capital Corporation (RC) Q3 2022 Earnings Call Transcript

Ready Capital (RC) delivered earnings and revenue surprises of -4.35% and 11.73%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Ready Capital (RC) Misses Q3 Earnings and Revenue Estimates

- GAAP EARNINGS PER COMMON SHARE OF $0.53 - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.46 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 12.7% - NEW YORK , Nov. 7, 2022 /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, 2022. "Against the backdrop of market volatility, rising rates and inflationary pressures, Ready Capital remains focused on finding accretive ways to grow the Company's platform while prudently managing our resources by taking a conservative stance on liquidity, leverage and credit," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

READY CAPITAL CORPORATION REPORTS THIRD QUARTER 2022 RESULTS

NEW YORK , Oct. 31, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its third quarter 2022 financial results after the New York Stock Exchange closes on Monday, November 7, 2022.  Management will host a webcast and conference call on Tuesday, November 8, 2022 at 8:30 a.m.

Ready Capital Corporation Announces Third Quarter 2022 Results and Webcast Call

NEW YORK , Oct. 19, 2022 /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 announced that it closed over $800 million across more than 60 commercial real estate loans during the three months ended September 30, 2022.  "Our clients have confidence in Ready Capital's proven ability to deliver certainty of execution," said Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

COMMITTED TO CERTAINTY OF EXECUTION, READY CAPITAL CLOSES OVER $800 MILLION IN COMMERCIAL REAL ESTATE LOANS DURING Q3 2022

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NEW YORK , Sept. 29, 2022 /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 announced the Board of Directors authorized an increase in the size of the Company's existing stock repurchase program by an additional $25.0 million, bringing the total amount authorized under the program to $50.0 million.

READY CAPITAL CORPORATION ANNOUNCES INCREASE TO SHARE REPURCHASE PROGRAM

Barring a few quarters during the pandemic, RC's market price remained flat, and the dividend also remained pretty stable for a long period of time. RC generated an average yield in excess of 10 percent and is expected to continue the same way, as earnings are expected to grow at a steady rate.

Ready Capital: Steady Double-Digit Yields With Minimal Risk

NEW YORK , Sept. 15, 2022 /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, 2022.

READY CAPITAL CORPORATION DECLARES THIRD QUARTER 2022 DIVIDENDS

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Ready Capital Corporation (NYSE:RC ) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET Company Participants Andrew Ahlborn - CFO Tom Capasse - CEO Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Jade Rahmani - Keefe, Bruyette, & Woods Eric Hagen - BTIG Christopher Nolan - Ladenburg Thalmann Matthew Howlett - B. Riley Securities Operator Greetings, and welcome to the Ready Capital Corporation Second Quarter 2022 Earnings Conference Call.

Ready Capital Corporation (RC) CEO Tom Capasse on Q2 2022 Results - Earnings Call Transcript

Ready Capital (RC) delivered earnings and revenue surprises of -16.36% and 3.94%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Ready Capital (RC) Q2 Earnings and Revenues Lag Estimates

- GAAP EARNINGS PER COMMON SHARE OF $0.47 - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.48 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 13.1% - NEW YORK , Aug. 4, 2022 /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, 2022. "Despite market volatility, Ready Capital's results are reflective of our ability to deploy capital across economic cycles," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

READY CAPITAL CORPORATION REPORTS SECOND QUARTER 2022 RESULTS

NEW YORK , Aug. 2, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its second quarter 2022 financial results after the New York Stock Exchange closes on Thursday, August 4, 2022.  Management will host a webcast and conference call on Friday, August 5, 2022 at 8:30 a.m.

Ready Capital Corporation Announces Second Quarter 2022 Results and Webcast Call

LONDON and NEW YORK , July 13, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years. The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities.

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