Ready Capital Corp Stock Price, News & Analysis

Ready Capital Corporation (NYSE: RC) has acquired ownership of Block 216 Tower, a prestigious mixed-use project in downtown Portland, Oregon, through a consensual deed-in-lieu arrangement with the prior owner. The project features a 251-key Ritz-Carlton hotel, 132 Ritz-Carlton Residences, 159,000 square feet of Class-A office space, and 11,000 square feet of retail space including the Flock food hall.

Ready Capital will manage the property in partnership with Lincoln Property Company, which manages over 562 million square feet of commercial space. Marriott International will continue managing the hotel and residences under The Ritz-Carlton brand. The acquisition aims to strengthen the project's financial and operational resources while supporting downtown Portland's development.

Ready Capital Corporation has announced its Q2 2025 dividend distributions. The company declared a quarterly cash dividend of $0.125 per share of common stock and Operating Partnership unit, payable on July 31, 2025, to shareholders of record as of June 30, 2025. Additionally, the Board declared dividends for two preferred stock series: $0.390625 per share for Series C Preferred Stock (payable July 15, 2025) and $0.40625 per share for Series E Preferred Stock (payable July 31, 2025). Ready Capital is a multi-strategy real estate finance company focusing on lower-to-middle-market commercial real estate loans, including agency multifamily, investor, construction, bridge, and SBA Section 7(a) loans.

Ready Capital Corporation announced its Q1 2025 dividend declarations. The company will pay a quarterly cash dividend of $0.125 per share of common stock and Operating Partnership unit for Q2 2025, payable on July 31, 2025, to shareholders of record as of June 30, 2025. The Board also declared dividends for preferred stockholders: $0.390625 per share for Series C Preferred Stock (payable July 15, 2025) and $0.40625 per share for Series E Preferred Stock (payable July 31, 2025). Ready Capital is a multi-strategy real estate finance company focusing on lower-to-middle-market commercial real estate loans, including agency multifamily, investor, construction, bridge, and SBA Section 7(a) loans.

Ready Capital Corporation (NYSE: RC) reported its Q1 2025 financial results with GAAP earnings per share of $0.47 but a distributable loss per share of $(0.09). The company's performance was impacted by market volatility and challenging macroeconomic conditions. Key highlights include: LMM commercial real estate originations of $79 million, SBL loan originations of $387 million, and a declared dividend of $0.125 per share. The company's book value stood at $10.61 per share as of March 31, 2025. Notable activities include completing the United Development Funding IV acquisition, repurchasing 3.4 million shares at an average price of $5.02, and closing a $220 million private placement of 9.375% Senior Secured Notes. Subsequently, in April 2025, ReadyCap Holdings issued an additional $50 million in Senior Secured Notes to repay indebtedness.

Ready Capital Corporation (NYSE: RC) has scheduled the release of its first quarter 2025 financial results after market close on Thursday, May 8, 2025. The company will host a webcast and conference call on Friday, May 9, 2025 at 8:30 a.m. Eastern Time to discuss the quarterly results and provide a business update.

Investors can access the webcast through Ready Capital's website Investor Relations section. For dial-in access, participants can call 877-407-0792 (domestic) or 201-689-8263 (international). A replay will be available until May 23, 2025, accessible via website or by calling 844-512-2921 (domestic) or 412-317-6671 (international) with pin 13750797.

iBusiness Funding (iBF), a division of Ready Capital (NYSE: RC), has launched Lendsey AI, the first agentic AI platform for SMB lending, alongside a $100 million commitment for AI advancement. The platform integrates with iBF's LenderAI Loan Origination System, processing over $100 million in SBA and conventional loans monthly.

Lendsey AI operates as a dual-facing solution, serving both borrowers and lenders with instant feedback and automated execution capabilities. The system includes proprietary tools for telephony, email, OCR, chat, document generation, and e-signing, enabling autonomous communication and execution.

iBF's unique advantage lies in leveraging data from its own lending operations, having field-tested solutions on over $11 billion in loans. The $100 million commitment will be internally financed through operating revenue, demonstrating the company's confidence in AI-driven lending.

Waterfall Asset Management has appointed Keerthi Raghavan as Co-Chief Investment Officer (Co-CIO), where he will work alongside current Co-CIO Brian Rebello to oversee all investment activities. Raghavan, who joined the firm in 2014, currently serves as Partner and Head of ABS Strategy and is a member of the Investment Committee.

The appointment follows the resignation of Patrick Lo, Partner and Co-CIO, after 19 years with the firm. Raghavan brings over 16 years of industry experience, including his previous role as Director for CMBS Credit Trading and Head of CMBS Research at Barclays Capital. His co-lead, Rebello, has been with Waterfall since 2010 and possesses over 25 years of industry experience.

Ready Capital (NYSE: RC) has completed its previously announced acquisition of United Development Funding IV (UDF IV). Under the merger terms, each UDF IV share was converted into 0.416 shares of Ready Capital common stock and 0.416 contingent value rights (CVRs).

The CVRs represent potential additional Ready Capital shares based on cash proceeds from five UDF IV loans over four periods: October 1, 2024 to December 31, 2025, and three subsequent calendar years. The combined entity continues to operate as Ready Capital and maintains its NYSE listing under 'RC'.

Ready Capital is a multi-strategy real estate finance company focusing on lower-to-middle-market commercial real estate loans, including agency multifamily, investor, construction, bridge, and SBA Section 7(a) loans. The company employs approximately 350 professionals nationwide.

NexPoint has issued an urgent update regarding the proposed merger between United Development Funding IV (UDF IV) and Ready Capital (RC), scheduled for shareholder vote on March 4, 2025. Following Ready Capital's concerning Q4 2024 earnings report, RC's stock price plummeted by over 25%, trading as low as $4.78 per share, which translates to $1.99 per UDF IV share under the merger terms.

The steep decline could potentially erase more than $30 million in value for UDF IV shareholders. NexPoint criticizes the UDF IV Board's hasty rejection of their competing proposal on February 28, 2025, and urges the Board to postpone the Special Meeting by one month to properly evaluate both transactions and Ready Capital's financial stability.