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Ready Capital Corporation - $RC STOCK NEWS

Welcome to our dedicated page for Ready Capital Corporation news (Ticker: $RC), a resource for investors and traders seeking the latest updates and insights on Ready Capital Corporation stock.

Ready Capital Corporation (NYSE: RC) is a leading real estate finance company based in the United States. The company focuses on originating, acquiring, financing, and servicing a variety of loan products, including small balance commercial (SBC) loans, Small Business Administration (SBA) loans, and residential mortgage loans. Ready Capital also invests in mortgage-backed securities primarily collateralized by SBC loans or other real estate-related investments.

The company operates through four main segments:

  • Acquisitions: This segment specializes in acquiring both performing and non-performing SBC loans.
  • SBC Originations: In this segment, Ready Capital originates SBC loans secured by stabilized or transitional investor properties. They use various loan origination channels and also offer multi-family loan products.
  • SBA Originations, Acquisitions, and Servicing: This segment focuses on acquiring, originating, and servicing owner-occupied loans that are guaranteed by the SBA.
  • Residential Mortgage Banking: This segment deals with the origination of residential mortgage loans.

Ready Capital is known for its diversified approach, leveraging its expertise across multiple loan types to achieve strong financial performance. Headquartered in New York, New York, the company employs over 600 lending professionals nationwide. Recent achievements include significant growth in loan origination volumes and strategic acquisitions aimed at enhancing the company’s portfolio and market position.

Ready Capital’s commitment to robust financial health is evident in its ongoing projects and partnerships. The company continuously seeks innovative solutions to meet the dynamic needs of its clients. Whether dealing with small business loans or substantial real estate investments, Ready Capital remains a pivotal player in the real estate finance sector.

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Ready Capital (NYSE: RC) announced its Board of Directors has declared a quarterly cash dividend of $0.30 per share for common stock and Operating Partnership units for Q2 2024. The dividend is payable on July 31, 2024, to shareholders of record as of June 28, 2024.

The Board also declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock ($0.390625 per share, payable July 15, 2024, record date June 28, 2024) and its 6.50% Series E Cumulative Redeemable Preferred Stock ($0.40625 per share, payable July 31, 2024, record date June 28, 2024).

Ready Capital specializes in real estate finance, offering various loans backed by commercial real estate, including agency multifamily, investor, construction, bridge, and U.S. Small Business Administration loans. The company is headquartered in New York, employing about 350 professionals nationwide.

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Ready Capital (NYSE: RC) has acquired Madison One Capital, M1 CUSO, and Madison One Lender Services, expanding its footprint in the government guaranteed loan sector. Madison One is a key player in USDA and SBA loan origination and servicing, targeting small businesses and energy projects in rural areas. The acquisition aims to diversify Ready Capital's revenue and increase its scale in gain-on-sale businesses. Expected to generate over $300 million annually in USDA loan volume, the acquisition will enhance Ready Capital's offerings in government-guaranteed small business loans. Madison One will continue operating under its current name as a subsidiary of Ready Capital.

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Ready Capital (NYSE:RC) announced that Tom Capasse, Chairman and CEO, will present at REITweek 2024. The event takes place at the New York Hilton Midtown on June 5, 2024, at 2:00 p.m. Eastern Time. Investors can access a live audio-webcast of the presentation through the Investor Relations section of the company's website. A replay will be available afterward.

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Ready Capital (NYSE:RC) announced a 103% increase in SBA 7(a) loans, reaching $265.7 million in the first four months of 2024. This underscores the success of their dual lending strategy. Additionally, Gary Taylor has been appointed CEO of ReadyCap Lending, bringing over 25 years of SBA lending experience. ReadyCap Lending aims to achieve an ambitious yearly volume goal of $1 billion, supported by organizational improvements and technology from their affiliate, iBusiness Funding. The company also plans to acquire Madison One, enhancing its position in the SBA lending market.

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Ready Capital reported a GAAP loss per share of $(0.45) and a distributable earnings per share of $0.29. The company's distributable return on average stockholders' equity was 8.6%. Despite challenges in commercial real estate, the company focused on repositioning loans and reducing office exposure. Total investments reached $457 million, with significant growth in the Small Business Lending segment. The company also declared a dividend of $0.30 per share and repurchased shares at favorable prices.

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Ready Capital (NYSE: RC) announced its first quarter 2024 financial results will be released on May 8, 2024, followed by a webcast and conference call on May 9, 2024. The Company specializes in real estate finance, offering various loan types.

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Ready Capital (RC) declares quarterly cash dividends for common stock and preferred stocks, with $0.30 per share for common stock, $0.390625 per share for Series C Preferred Stock, and $0.40625 per share for Series E Preferred Stock.
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Ready Capital Corporation (RC) reported GAAP earnings per common share of $0.12 and distributable earnings per common share of $0.26, achieving a distributable return on average stockholders' equity of 7.5%. The company highlighted total investments of $449 million in the fourth quarter, with significant LMM and SBA 7(a) originations. Ready Capital also completed a merger with Broadmark Realty Capital Inc., initiated a stock repurchase program, and reported a net book value of $14.10 per share as of December 31, 2023.
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Ready Capital Corporation (RC) will release its Q4 and full year 2023 financial results on February 27, 2024. A webcast and conference call will follow the next day to discuss the results and provide a business update.
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Ethan Penner and Chad Carpenter announced the launch of Reven Office REIT, a U.S. office-focused real estate finance company aiming to raise $1 billion through a lead investor and a blind pool IPO. The company plans to provide financing solutions for office owners and investors, with a focus on first mortgages, mezzanine debt, and preferred equity. Reven Office REIT also plans to invest in distressed office debt and properties at attractive discounts, leveraging market dislocations. The company aims to capitalize on the current office market dislocation and a growing demand for financing, with a focus on institutional-quality Class A office properties in top markets. The company's leadership includes Ethan Penner as Chairman of the Board and Chad Carpenter as CEO, both with extensive experience in real estate and finance. The company aims to leverage its industry relationships to build a robust investment pipeline.
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FAQ

What does Ready Capital Corporation specialize in?

Ready Capital Corporation specializes in originating, acquiring, financing, and servicing small balance commercial (SBC) loans, Small Business Administration (SBA) loans, and residential mortgage loans.

What are the main segments of Ready Capital Corporation?

The main segments of Ready Capital Corporation are Acquisitions, SBC Originations, SBA Originations, Acquisitions, and Servicing, and Residential Mortgage Banking.

Where is Ready Capital Corporation headquartered?

Ready Capital Corporation is headquartered in New York, New York.

How many professionals does Ready Capital employ?

Ready Capital employs over 600 lending professionals nationwide.

What type of loans does the SBC Originations segment focus on?

The SBC Originations segment focuses on originating SBC loans secured by stabilized or transitional investor properties and multi-family loan products.

What is the role of the Acquisitions segment in Ready Capital Corporation?

The Acquisitions segment acquires both performing and non-performing SBC loans.

What is unique about the SBA Originations, Acquisitions, and Servicing segment?

This segment specializes in acquiring, originating, and servicing owner-occupied loans that are guaranteed by the SBA.

What kind of projects and partnerships is Ready Capital involved in?

Ready Capital is involved in projects and partnerships that focus on innovative solutions to meet dynamic client needs in various loan types including SBC, SBA, and residential mortgage loans.

What recent achievements has Ready Capital Corporation accomplished?

Recent achievements include significant growth in loan origination volumes and strategic acquisitions to enhance the company’s portfolio and market position.

How does Ready Capital Corporation maintain its financial health?

Ready Capital maintains its financial health by diversifying its loan portfolio, leveraging expertise across multiple loan types, and continuously seeking innovative solutions for its clients.

Ready Capital Corporation

NYSE:RC

RC Rankings

RC Stock Data

1.39B
170.93M
1.06%
57.83%
6.3%
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Finance and Insurance
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United States of America
NEW YORK