Ready Capital Corporation, together with its subsidiaries, operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through four segments: Acquisitions; SBC Originations; SBA Originations, Acquisitions and Servicing; and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans. The SBC Originations segment originates SBC loans secured by stabilized or transitional investor properties using various loan origination channels; and originates and services multi-family loan products. The SBA Originations, Acquisitions and Servicing segment acquires, originates, and services owner-occupied loans guaranteed by the SBA. The Residential Mortgage Banking segment originates residential mortgage loans through retail, correspondent, and broker channels. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.
IPO Year: 2013
Exchange: NYSE
Website: readycapital.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/19/2024 | Neutral | BTIG Research | |
| 5/10/2024 | Buy → Neutral | Ladenburg Thalmann | |
| 3/4/2024 | $10.00 → $8.00 | Mkt Perform → Underperform | Keefe Bruyette |
| 12/18/2023 | Outperform → Mkt Perform | Raymond James | |
| 12/6/2023 | $10.50 | Neutral | UBS |
| 10/23/2023 | $14.50 → $12.00 | Buy | BTIG Research |
| 10/17/2023 | $11.00 | Neutral | Wedbush |
| 12/15/2022 | $13.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 10/20/2022 | $11.00 | Neutral | UBS |
| 12/3/2021 | $17.00 → $18.00 | Buy | B. Riley Securities |
10-Q - Ready Capital Corp (0001527590) (Filer)
8-K - Ready Capital Corp (0001527590) (Filer)
10-Q - Ready Capital Corp (0001527590) (Filer)
8-K - Ready Capital Corp (0001527590) (Filer)
8-K - Ready Capital Corp (0001527590) (Filer)
ARS - Ready Capital Corp (0001527590) (Filer)
DEFA14A - Ready Capital Corp (0001527590) (Filer)
DEF 14A - Ready Capital Corp (0001527590) (Filer)
10-Q - Ready Capital Corp (0001527590) (Filer)
10-K/A - Ready Capital Corp (0001527590) (Filer)
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.07) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $(0.28) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.25 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY BEFORE REALIZED LOSSES OF 8.4% - NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE:RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market ("LMM") investor and owner-occupied commercial real estate loans, today reported financial results for the quarter ended September 30, 2024. "Our third quarter per
NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its third quarter 2024 financial results after the New York Stock Exchange closes on Thursday, November 7, 2024. Management will host a webcast and conference call on Friday, November 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended September 30, 2024. Webcast:The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended September 30, 2024. This dividend is payable on October 31, 2024, to shareholders of record as of the close of business on September 30, 2024. "After careful consideration, the Board of Directors made the strategic decision to better align the dividend with our long-term growth objectives," said Thomas Capasse, Chief Executive Officer and Chairman of the Board of Directors. "We remain confident that our earnings will continue to migrat
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.21) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.07 -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.19 -- DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 2.6% - NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE:RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market ("LMM") investor and owner occupied commercial real estate loans, today reported financial results for the quarter ended June 30, 2024. "The second quarter results are reflective of ou
NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its second quarter 2024 financial results after the New York Stock Exchange closes on Wednesday, August 7, 2024. Management will host a webcast and conference call on Thursday, August 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended June 30, 2024. Webcast:The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the Co
FORT LAUDERDALE, Fla., June 24, 2024 /PRNewswire/ -- iBusiness Funding LLC (iBusiness), the technology and lending services division of Ready Capital Corporation (NYSE:RC), and Funding Circle Holdings plc are pleased to announce a share purchase agreement, positioning iBusiness Funding, LLC as the new owner of FC USA and its subsidiaries, contingent on the return of its Small Business Lending Company (SBLC) license to the SBA. Founder and CEO of iBusiness Funding LLC Justin Levy expressed his enthusiasm, saying, "We are thrilled to welcome the exceptional FC USA team to the iB
NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2024. This dividend is payable on July 31, 2024, to shareholders of record as of the close of business on June 28, 2024. Additionally, the Company announced that its Board of Directors declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock (the "Series C Preferred Stock"), and its 6.50% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock"). The Company decla
NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company"), a multi-strategy real estate finance company that originates, acquires, finances and services small-to-medium balance commercial loans, today announced that it has acquired Madison One Capital, M1 CUSO and Madison One Lender Services (together, "Madison One"), a leading originator and servicer in the highly profitable government guaranteed loan industry focusing on United States Department of Agriculture ("USDA") and SBA guaranteed loan products. Terms of the transaction were not disclosed. The transaction will expand Ready Capital's presence in USDA lending through programs
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.45) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.29 -- DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 8.6% - NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE:RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market ("LMM") investor and owner occupied commercial real estate loans, today reported financial results for the quarter ended March 31, 2024. "We continue to address the challenges caused by the current recession in commercial real estate," said Thomas Capasse, Ready Capital's Chair
NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its first quarter 2024 financial results after the New York Stock Exchange closes on Wednesday, May 8, 2024. Management will host a webcast and conference call on Thursday, May 9, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended March 31, 2024. Webcast:The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the Company's
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4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
BTIG analyst Timothy Hayes assumes Ready Capital (NYSE:RC) with a Neutral rating.
The share purchase agreement, position iBusiness Funding, LLC as the new owner of FC USA and its subsidiaries, contingent on the return of its Small Business Lending Company (SBLC) license to the SBA. Ready Capital CEO Thomas Capasse said, "We're excited to acquire FC USA and expect the acquisition to yield meaningful revenue and earnings to the combined company in the years to come."
Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company"), a multi-strategy real estate finance company that originates, acquires, finances and services small-to-medium balance commercial loans, today announced that it has acquired Madison One Capital, M1 CUSO and Madison One Lender Services (together, "Madison One"), a leading originator and servicer in the highly profitable government guaranteed loan industry focusing on United States Department of Agriculture ("USDA") and SBA guaranteed loan products. Terms of the transaction were not disclosed.
Ladenburg Thalmann analyst Christopher Nolan downgrades Ready Capital (NYSE:RC) from Buy to Neutral.
Ready Capital (NYSE:RC) reported quarterly earnings of $0.29 per share which beat the analyst consensus estimate of $0.26 by 11.54 percent. This is a 3.33 percent decrease over earnings of $0.30 per share from the same period last year. The company reported quarterly sales of $48.549 million which missed the analyst consensus estimate of $81.638 million by 40.53 percent. This is a 14.98 percent decrease over sales of $57.100 million the same period last year.
BTIG analyst Timothy Hayes maintains Ready Capital (NYSE:RC) with a Buy and lowers the price target from $12 to $10.
Although U.S. stocks closed lower on Tuesday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Ready Capital The Trade: Ready Capital Corporation (NYSE:RC) Director Gilbert E Nathan acquired a total of 9,150 shares an av
Throughout the last three months, 4 analysts have evaluated Ready Capital (NYSE:RC), offering a diverse set of opinions from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 1 1 0 Last 30D 1 0 0 1 0 1M Ago 1 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 1 0 0 Analysts have set 12-month price targets for Ready Capital, revealing an average target of $45.38, a high estimate of $151.00, and a low estimate of $8.00. This current average has decreased by 13.28% from
What is a Value Stock? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. The following stocks are considered to be notable value stocks in the real estate sector: Arbor Realty Trust (NYSE:ABR) - P/E: 7.38 Corporacion Inmobiliaria (NYSE:VTMX) - P/E: 9.83 Franklin BSP Realty Trust (NYSE:FBRT) - P/E: 9.12 Ready Capital (NYSE:RC) - P/E: 3.81 Lument Finance Trust (NYSE:LFT) - P/E: 9.83 This quarter, Arbor Realty Trust experienced a decrease in earnings per share, which was $0.55 in Q3 a
B. Riley Securities analyst Matt Howlett reiterates Ready Capital (NYSE:RC) with a Buy and lowers the price target from $13 to $12.
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.07) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $(0.28) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.25 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY BEFORE REALIZED LOSSES OF 8.4% - NEW YORK, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE:RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market ("LMM") investor and owner-occupied commercial real estate loans, today reported financial results for the quarter ended September 30, 2024. "Our third quarter per
NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its third quarter 2024 financial results after the New York Stock Exchange closes on Thursday, November 7, 2024. Management will host a webcast and conference call on Friday, November 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended September 30, 2024. Webcast:The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended September 30, 2024. This dividend is payable on October 31, 2024, to shareholders of record as of the close of business on September 30, 2024. "After careful consideration, the Board of Directors made the strategic decision to better align the dividend with our long-term growth objectives," said Thomas Capasse, Chief Executive Officer and Chairman of the Board of Directors. "We remain confident that our earnings will continue to migrat
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(0.21) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.07 -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.19 -- DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 2.6% - NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE:RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market ("LMM") investor and owner occupied commercial real estate loans, today reported financial results for the quarter ended June 30, 2024. "The second quarter results are reflective of ou
NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its second quarter 2024 financial results after the New York Stock Exchange closes on Wednesday, August 7, 2024. Management will host a webcast and conference call on Thursday, August 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended June 30, 2024. Webcast:The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the Co
FORT LAUDERDALE, Fla., June 24, 2024 /PRNewswire/ -- iBusiness Funding LLC (iBusiness), the technology and lending services division of Ready Capital Corporation (NYSE:RC), and Funding Circle Holdings plc are pleased to announce a share purchase agreement, positioning iBusiness Funding, LLC as the new owner of FC USA and its subsidiaries, contingent on the return of its Small Business Lending Company (SBLC) license to the SBA. Founder and CEO of iBusiness Funding LLC Justin Levy expressed his enthusiasm, saying, "We are thrilled to welcome the exceptional FC USA team to the iB
NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2024. This dividend is payable on July 31, 2024, to shareholders of record as of the close of business on June 28, 2024. Additionally, the Company announced that its Board of Directors declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock (the "Series C Preferred Stock"), and its 6.50% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock"). The Company decla
NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company"), a multi-strategy real estate finance company that originates, acquires, finances and services small-to-medium balance commercial loans, today announced that it has acquired Madison One Capital, M1 CUSO and Madison One Lender Services (together, "Madison One"), a leading originator and servicer in the highly profitable government guaranteed loan industry focusing on United States Department of Agriculture ("USDA") and SBA guaranteed loan products. Terms of the transaction were not disclosed. The transaction will expand Ready Capital's presence in USDA lending through programs
NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") announced that Tom Capasse, Ready Capital's Chairman and Chief Executive Officer, will present at REITweek 2024: Nareit's Investor Conference at the New York Hilton Midtown on Wednesday, June 5, 2024 at 2:00 p.m. Eastern Time. Access to a live audio-webcast of the presentation in listen-only mode will be available through the "Investor Relations" section of the Company's website, www.readycapital.com. A replay of the webcast will be archived on the Company's website. About Ready Capital CorporationReady Capital Corporation (NYSE:RC) is a multi-strategy real estate finance company that orig
NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital") proudly announces a significant milestone for its non-bank SBA 7(a) subsidiary, ReadyCap Lending (RCL), as it closed $265.7 million of SBA 7(a) loans in the first four months of 2024. This achievement represents a remarkable 103% increase from the same period in the previous year, underscoring the success of its dual strategy catering to both large and small loans per SBA guidelines. In addition to this milestone, RCL is pleased to announce the appointment of Gary Taylor as its new CEO. With over 25 years of extensive experience in SBA lending and operations, Mr. Taylor brings a wealth of know
BTIG Research resumed coverage of Ready Capital with a rating of Neutral
Ladenburg Thalmann downgraded Ready Capital from Buy to Neutral
Keefe Bruyette downgraded Ready Capital from Mkt Perform to Underperform and set a new price target of $8.00 from $10.00 previously
Raymond James downgraded Ready Capital from Outperform to Mkt Perform
UBS resumed coverage of Ready Capital with a rating of Neutral and set a new price target of $10.50
BTIG Research resumed coverage of Ready Capital with a rating of Buy and set a new price target of $12.00 from $14.50 previously
Wedbush initiated coverage of Ready Capital with a rating of Neutral and set a new price target of $11.00
Keefe Bruyette downgraded Ready Capital from Outperform to Mkt Perform and set a new price target of $13.00
UBS initiated coverage of Ready Capital with a rating of Neutral and set a new price target of $11.00
B. Riley Securities reiterated coverage of Ready Capital with a rating of Buy and set a new price target of $18.00 from $17.00 previously
NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital") proudly announces a significant milestone for its non-bank SBA 7(a) subsidiary, ReadyCap Lending (RCL), as it closed $265.7 million of SBA 7(a) loans in the first four months of 2024. This achievement represents a remarkable 103% increase from the same period in the previous year, underscoring the success of its dual strategy catering to both large and small loans per SBA guidelines. In addition to this milestone, RCL is pleased to announce the appointment of Gary Taylor as its new CEO. With over 25 years of extensive experience in SBA lending and operations, Mr. Taylor brings a wealth of know
NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Waterfall Asset Management today announced that Patrick Lo and Brian Rebello have been elevated to Co-Chief Investment Officers. Patrick and Brian, both partners of the Firm, have been instrumental in Waterfall's growth and successful investment performance on behalf of its clients over the past 15 years. "Patrick and Brian have played key roles in Waterfall's investment efforts and overall evolution since each joined the Firm in its early days," said Tom Capasse, founder and managing partner of Waterfall. "They are both capable investors and leaders with highly complementary skills and backgrounds who exemplify the collaboration, intellectual rigor, a
NEW YORK, July 15, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced the appointment of Adam Zausmer as Chief Credit Officer, effective immediately. "Adam's extensive knowledge and understanding of the commercial real estate markets as well as his disciplined approach to credit have contributed to Ready Capital's strong competitive position in the market," stated Ready Capital Chairman and Chief Executive Officer Thomas Capasse. "We are excited about promoting Adam to Chief Credit Officer and expect his leadership to be a driving force in the Company's future success and growth." Mr. Zausmer joined Ready Capital's manager, Waterfall A
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