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 Corporation (NYSE: RC) announced a public offering of $175 million in 5.75% Senior Notes due 2026. The offering includes a 30-day over-allotment option for an additional $26.25 million. Proceeds will be used to redeem existing 6.50% Senior Notes due 2021 and to support business operations, including commercial loan pipelines. The offering is set to close on February 10, 2021, with plans to list the Notes on the NYSE under symbol RCC.
Ready Capital announced the closing of acquisition, refinance, renovation, and redevelopment loans totaling approximately $225 million across 11 states between September and December 2020. Notable transactions include:
- $4.7MM for a 260,000 SF industrial property in Hartford, CT.
- $10.1MM for an 85,000 SF office property in Los Angeles, CA.
- $14.4MM for a 50,000 SF office property in Oakland, CA.
- $12.0MM for a 176-unit multifamily property in Tampa, FL.
This financing supports capital improvements and market occupancy goals for various real estate properties.
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.