Ready Capital Corp Stock Price, News & Analysis

Ready Capital Corporation (NYSE:RC) declared a quarterly cash dividend of $0.35 per share for the quarter ended December 31, 2020. This dividend is payable on January 29, 2021 to shareholders of record as of December 31, 2020. The company specializes in real estate finance, focusing on small to medium balance commercial loans backed by various types of commercial real estate. Ready Capital is managed by Waterfall Asset Management and employs over 500 lending professionals nationwide.

Ready Capital Corporation (NYSE: RC) reported strong financial results for the third quarter of 2020. The company achieved U.S. GAAP net income of $35.4 million ($0.63 per share) and core earnings of $32.1 million ($0.57 per share). It originated $1.2 billion in residential mortgage loans and recorded a significant $82.9 million in SBA-guaranteed loans. With an adjusted net book value of $14.84 per share and liquidity of $221.7 million, Ready Capital declared a $0.30 dividend per share. The company remains optimistic despite COVID-19 uncertainties.

Ready Capital Corporation (NYSE: RC) will release its third quarter 2020 financial results on November 4, 2020, after market close. A conference call and webcast for discussing the results will occur on November 5, 2020, at 8:30 AM ET. The Company, based in New York, specializes in financing small- to medium-sized commercial loans, including agency multifamily and SBA loans. Investors can access the audio of the live call through the Company’s website. A replay will be available shortly after the call until November 19, 2020.

Ready Capital has successfully closed a $16.9 million value-add bridge loan for an acquisition, renovation, and lease-up of a Class B industrial property in Memphis, TN. This loan, which is non-recourse and interest-only, will facilitate essential improvements including roof restorations and modernized lighting. The financing allows for future capital expenditures and tenant leasing costs. The deal aligns with Ready Capital's strategy to provide flexible financing solutions in transitional real estate markets.

Ready Capital Corporation (NYSE:RC) declared a quarterly cash dividend of $0.30 per share for the quarter ended September 30, 2020. The dividend will be payable on October 30, 2020, to shareholders of record by the close of business on September 30, 2020. This announcement reflects the company's ongoing commitment to returning value to shareholders while maintaining a focus on growth in the multifamily and commercial real estate sectors.

Ready Capital Corporation (NYSE: RC) reported solid financial results for Q2 2020, with a U.S. GAAP Net income of $34.7 million ($0.62 per share) and Core Earnings of $39.2 million ($0.70 per share). Highlights include originating a record $1.2 billion in residential mortgage loans and facilitating $2.7 billion in Paycheck Protection Program loans for over 40,000 businesses. The Company declared a $0.25 dividend per share and announced a $5 million increase in its stock repurchase program, now totaling $25 million.

Ready Capital Corporation (NYSE: RC) will announce its Q2 2020 financial results after market close on August 6, 2020. A conference call and webcast for investors will take place on August 7, 2020, at 8:30 AM ET, allowing management to discuss the financial outcomes and provide a business update. Investors are encouraged to use the webcast due to potential wait times for dial-in access. Ready Capital specializes in financing small- to medium-sized commercial loans backed by real estate, including agency multifamily and SBA loans.

Ready Capital Corporation (NYSE: RC) announced the completion of two securitizations totaling $609 million in Q2 2020. The first is a $405 million commercial real estate CLO backed by 56 floating-rate loans, with 80% sold to investors at LIBOR plus 236 basis points. The second is a $204 million securitization of 228 fixed-rate commercial loans, with 85% sold at an average interest rate of 4.0%. Proceeds reduced secured borrowings by $430 million and generated $60 million in cash. Unencumbered cash rose to $225 million from $122 million in Q1 2020.

Ready Capital Corporation (NYSE:RC) declared a $0.25 quarterly cash dividend per share for the quarter ended June 30, 2020. The dividend will be payable on July 31, 2020 to shareholders of record by the close of business on June 30, 2020.

Ready Capital focuses on originating and servicing small to medium balance commercial loans, particularly those backed by commercial real estate. Headquartered in New York City, it operates under external management from Waterfall Asset Management.