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.
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Ready Capital Corporation (NYSE: RC) announced it will release its first quarter 2023 financial results after the close of the New York Stock Exchange on May 8, 2023. A webcast and conference call will be held on May 9, 2023, at 8:30 a.m. Eastern Time, where management will provide a business update and discuss the financial results for the quarter ended March 31, 2023. Investors are encouraged to access the webcast to avoid potential wait times associated with the dial-in option. The webcast will be available in the Investor Relations section of the Company’s website.
Ready Capital is a multi-strategy real estate finance company focused on small- to medium-sized balance commercial loans, specializing in loans backed by commercial real estate and U.S. Small Business Administration loans.
Ready Capital Corporation announced significant growth in its bridge lending program, surpassing $10 billion in bridge originations since its launch in 2015. This milestone includes over 500 loans and highlights the company's adaptability in evolving market conditions.
David A. Cohen, Chief Production Officer, attributed this success to the diverse bridge lending products and a responsive credit process tailored to client needs. Ready Capital specializes in various commercial real estate loans, including agency, multifamily, investor, and U.S. Small Business Administration loans under its Section 7(a) program. The company is headquartered in New York and employs over 600 professionals nationwide.
Waterfall Asset Management has announced the final closing of its Waterfall Atlas Fund, securing
Ready Capital Corporation (NYSE: RC) has announced a quarterly cash dividend of $0.40 per share, payable on April 28, 2023, to shareholders of record by March 31, 2023. The company also declared dividends for its preferred stocks: $0.390625 for the 6.25% Series C Preferred Stock payable on April 14, 2023, and $0.40625 for the 6.50% Series E Preferred Stock payable on April 28, 2023. Ready Capital specializes in commercial real estate loans and is managed by Waterfall Asset Management, LLC.
The merger between Ready Capital Corporation (NYSE:RC) and Broadmark Realty Capital Inc. (NYSE:BRMK) will create the 4th largest commercial mortgage REIT with a capital base of $2.8 billion. The deal, valued at approximately $787 million, involves Broadmark shareholders receiving 0.47233 shares of Ready Capital for each share of Broadmark, implying a 41% premium. After completion, Ready Capital stockholders will own about 64% of the combined firm. This merger aims to enhance earnings per share in 2024 and drive long-term growth through synergistic business models and optimized capital management.
Ready Capital Corporation (NYSE: RC) reported financial results for Q4 2022, showcasing GAAP earnings per share of $0.08 and distributable earnings per share of $0.42. The total investments amounted to $1.4 billion, with significant originations including $891 million in SBC loans and $327 million in residential mortgages. Highlights include a successful $860 million securitization and total SBC originations of $5.2 billion for the year. The net book value stood at $15.20 per share, with a dividend of $0.40 declared and paid, reflecting a 1.1x coverage on distributable earnings.
Broadmark Realty Capital has reported its Q4 and full year 2022 operating results, revealing a net loss of $153 million for Q4, largely attributed to a $137 million goodwill impairment. The company's total revenue for Q4 was $21.1 million, with distributable earnings of $12.3 million. As of December 31, 2022, loans in default totaled $250.4 million across 40 loans, reflecting the impact of increased market volatility. The company declared cash dividends of $0.035 per common share for January and February 2023. The pending merger with Ready Capital is notable, as it will not include a conference call to discuss these results.
Ready Capital Corporation (NYSE: RC) will host a webcast and conference call on February 27, 2023, at 8:00 a.m. ET to discuss its financial results for the fourth quarter ended December 31, 2022. The financial results will be released before the New York Stock Exchange opens. Interested parties can access the webcast through the Investor Relations section of the company's website. For those who prefer a dial-in option, domestic callers can reach 877-407-0792, while international callers can dial 201-689-8263. A replay will be available on the website two hours after the live call until March 13, 2023.