Welcome to our dedicated page for Ready Capital news (Ticker: RC), a resource for investors and traders seeking the latest updates and insights on Ready Capital stock.
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance REIT focused on lower-to-middle-market investor and owner-occupied commercial real estate loans and small-balance commercial lending. This news page aggregates company announcements, earnings releases, dividend declarations, and transaction updates related to Ready Capital’s lending, portfolio management, and capital markets activities.
Investors following RC news can review periodic earnings reports in which Ready Capital discusses GAAP results, its non-GAAP distributable earnings measure, loan originations in lower-to-middle-market commercial real estate and Small Business Lending, and actions taken to manage underperforming assets. These releases often describe portfolio sales, changes in loan and real estate exposure, and steps the company is taking to address balance sheet strength and liquidity.
News items also cover Ready Capital’s regular dividend declarations on its common stock and Operating Partnership units, as well as on its 6.25% Series C Cumulative Convertible Preferred Stock and 6.50% Series E Cumulative Redeemable Preferred Stock. These announcements provide details on declared amounts, record dates, and payment dates, reflecting the company’s REIT distribution practices.
In addition, Ready Capital issues updates on specific transactions and assets, such as securing ownership of collateral properties through consensual deed-in-lieu arrangements, and on activities of subsidiaries like iBusiness Funding, LLC, which supports SBA lending with its LenderAI platform. Regulatory news filed on Form 8-K, including earnings releases, investor presentations, and annual meeting voting results, also appears in the company’s news flow.
By using this page, readers can follow Ready Capital’s reported financial performance, lending volumes, asset sales, capital structure developments, and governance-related announcements in one place.
Ready Capital reported strong financial results for Q3 2021, with Distributable Earnings of $49.4 million, translating to $0.64 per share. The company announced a dividend of $0.42 per share, backed by 1.5x coverage. Investments totaled $2.3 billion for the quarter, driven by sizeable originations and acquisitions in commercial loans. Year-to-date activity reached $6.8 billion, marking a 67% increase. The company also secured $350 million in Senior Secured Notes to optimize its capital structure. Adjusted net book value stood at $15.06 per share, reflecting continued growth.
Ready Capital Corporation (NYSE:RC) has entered into a definitive merger agreement to acquire several privately held real estate structured finance funds managed by MREC Management, LLC, focusing on construction lending. This merger is projected to enhance Ready Capital's equity capital base to over $1.7 billion and diversify its investment portfolio with construction assets. The deal is anticipated to be accretive to earnings and reduce leverage, with Ready Capital shareholders owning approximately 70% of the combined entity post-merger.
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Ready Capital Corporation (NYSE: RC) will announce its third quarter 2021 financial results on November 4, 2021, before the NYSE opens. A conference call is scheduled for November 5, 2021, at 8:30 a.m. ET, where management will discuss the results and provide a business update. Investors can access the call through a webcast available on the company's website, with dial-in options also provided. The replay will be available post-call until November 19, 2021. Ready Capital specializes in financing small- to medium-sized commercial loans.
Ready Capital Corporation (NYSE: RC) announced the closing of a private placement of $350 million in senior secured notes due 2026 at a 4.50% interest rate. These notes are backed by a first-priority lien on certain assets and guaranteed by multiple subsidiaries. The funds will be used to redeem existing 7.50% Senior Secured Notes due 2022 and for general corporate purposes. Placement agents for this offering included Piper Sandler & Co. and Keefe, Bruyette & Woods.
Ready Capital Corporation (NYSE: RC) announced it has exceeded $1 billion in SBA 7(a) Loans, marking its position as the second-largest non-bank SBA lender in the U.S. Key year-to-date metrics include:
- Ranked #2 among non-bank SBA lenders in loan approvals
- Ranked #6 among all SBA lenders
- Top 1% in loans closed
- Closed 489 loans with a volume exceeding $616 million
Ready Capital aims to become the largest non-bank lender within three years.
Waterfall Asset Management has been recognized in Inc.'s 2021 list of founder-friendly private equity and venture capital investors. As of July 1, 2021, Waterfall managed approximately $9.7 billion in assets, focusing on structured credit and private equity across various sectors. The list highlights 146 firms actively supporting entrepreneurs, emphasizing the importance of partnership over mere financial investment. Notably, Waterfall is also the external manager for Ready Capital (NYSE: RC), which has provided over $3 billion in capital nationwide.
Peaks Strategies, a financial services PR consultancy based in New York, has announced significant growth driven by new client acquisitions and team expansion. Recently appointed as the agency of record for Ready Capital (NYSE: RC), Peaks Strategies will enhance its media and content strategy. The firm also welcomed Vaibhav Kumar as a Senior Associate to strengthen client services. Additional client acquisitions include firms in carbon capture, blockchain investment, and fintech, reflecting Peaks' commitment to innovative communication in diverse sectors.
Ready Capital Corporation (NYSE: RC) has declared a quarterly cash dividend of $0.42 per share for the quarter ended September 30, 2021, payable on October 29, 2021. Shareholders of record as of September 30, 2021, will receive the dividend. Additionally, the Company announced dividends for its preferred stock: $0.390625 for Series C Preferred Stock, payable on October 15, 2021, and $0.40625 for Series E Preferred Stock, payable on November 1, 2021.
Ready Capital Corporation (NYSE: RC) has successfully closed a $652.5 million commercial mortgage collateralized loan obligation (CRE CLO), with rights to acquire $87.8 million in future funding interests. This marks the sixth CRE CLO issued by the company, backed by a total of $2.45 billion of collateral. Moody's and DBRS assigned high ratings of Aaa(sf) and AAA(sf), respectively, to the senior certificates. The portfolio consists of 52 loans secured by 55 properties, primarily multifamily, originated post-pandemic. So far this year, the company closed over $1.5 billion across more than 70 loans.