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 |
|---|---|---|---|
| 3/3/2025 | Mkt Outperform → Mkt Perform | Citizens JMP | |
| 1/7/2025 | $12.00 → $10.00 | Buy → Neutral | B. Riley Securities |
| 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 |
NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that it has completed the previously announced acquisition of United Development Funding IV ("UDF IV") (the "Merger") pursuant to the terms of the Agreement and Plan of Merger, dated as of November 29, 2024, by and among Ready Capital, RC Merger Sub IV, LLC, and UDF IV. The combined company will conduct business under the name "Ready Capital Corporation" and will continue to trade on the New York Stock Exchange under the ticker symbol "RC." At the effective time of the Merger, each outstanding common share of beneficial interest, par value $0.01 per share, of
IRVING, Texas, March 13, 2025 (GLOBE NEWSWIRE) -- United Development Funding IV ("UDF IV") announced today that on March 4, 2025, its board of trustees authorized a cash distribution of $2.3785 per share payable on or around March 13, 2025, to shareholders of record at the close of business on March 4, 2025, or approximately $73 million in the aggregate. This distribution is contemplated by the merger agreement between UDF IV and Ready Capital Corporation (NYSE:RC). Including the approximately $2 million distribution paid by UDF IV to shareholders in December 2024, this distribution brings the total amount distributed to shareholders since the announcement of the merger to the maximum $75
IRVING, Texas, March 04, 2025 (GLOBE NEWSWIRE) -- United Development Funding IV ("UDF IV" or the "Trust") today announced that, based on the voting results certified by UDF IV's inspector of elections, First Coast Results, Inc., UDF IV shareholders approved the previously announced merger with Ready Capital Corporation (NYSE:RC) at the UDF IV Special Meeting of Shareholders (the "Special Meeting") held earlier today. "We thank our shareholders for their support of our merger with Ready Capital," said Jim Kenney, Managing Trustee and Chief Executive Officer of UDF IV. "This is an exciting milestone for UDF IV and the Trust's shareholders, and we are pleased to be one step closer to realizi
Steep Decline in RC Stock Price Following Q4 2024 Earnings Release Has Potential to Erase More Than $30 Million in Value for UDF IV Shareholders Under Proposed Merger NexPoint Urges Board to Reconsider Hasty Rejection of NexPoint's Proposal and Postpone Special Meeting to Properly Evaluate Transactions on Behalf of Shareholders DALLAS, March 3, 2025 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today provided an update on United Development Funding IV ("UDF IV") ahead of the upcoming Special Meeting of UDF IV Shareholders (the "Meeting"), scheduled for March 4, 2025, to vote on the proposed merger of UDF IV with Ready Capital (NYSE: RC) (th
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(1.80) -- DISTRIBUTABLE LOSS PER COMMON SHARE OF $(0.03) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.23 -- DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY BEFORE REALIZED LOSSES OF 7.1% -- DECLARED A QUARTERLY CASH DIVIDEND OF $0.125 PER SHARE OF COMMON STOCK AND OPERATING PARTNERSHIP UNIT FOR THE QUARTER ENDING MARCH 31, 2025 - NEW YORK, March 03, 2025 (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
Implores UDF IV Board to Postpone March 4 Special Meeting for One Month to Engage with NexPoint and Appropriately Evaluate Proposal NexPoint Will Not Vote at Special Meeting Without Due Consideration of Proposal DALLAS, Feb. 27, 2025 /PRNewswire/ -- NexPoint Advisors, L.P. (together with its affiliates "NexPoint") today announced NexPoint Real Estate Opportunities, LLC has submitted a competing proposal to the Board of Trustees of United Development Funding IV ("UDF IV" or "the Trust") ahead of the Special Meeting of UDF IV Shareholders (the "Meeting"), scheduled for March 4, 2025, to vote on the proposed merger of UDF IV with Ready Capital (NYSE: RC) (the "Ready Merger"). The confidential
NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that on February 21, 2025, ReadyCap Holdings, LLC ("ReadyCap"), an indirect subsidiary of the Company closed a private placement of $220.0 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028 (the "Notes"). The Notes are senior secured obligations of ReadyCap. Payments of the amounts due on the Notes are fully and unconditionally guaranteed (the "Guarantees"), at issuance, by the Company, Ready Capital Partners I, LLC, Ready Capital Subsidiary REIT II, LLC ("SubREIT II"), RCSR I Investments, LLC ("RCSR I"), RCSR II Investments, LLC
NexPoint is Deferring its Vote, Encourages Shareholders to Take No Action on Merger Voteto Compel Board to Properly Review Any Competing Proposal Calls for UDF IV Board to Postpone March 4 Special Meeting by 30 Days and Engage withNexPoint to Ensure Best Outcome for Shareholders DALLAS, Feb. 21, 2025 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today provided an update on its intentions with respect to its investment in United Development Funding IV ("UDF IV" or "the Trust") ahead of the Special Meeting of UDF IV Shareholders (the "Meeting"), scheduled for March 4, 2025, to vote on the proposed merger of UDF IV with Ready Capital (NYSE:RC)
NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its fourth quarter and full year 2024 financial results before the New York Stock Exchange opens on Monday, March, 3, 2025. Management will host a webcast and conference call on that same day at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter and year ended December 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 sectio
NEW YORK, Jan. 16, 2025 (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 investor- and owner-occupied commercial real estate loans, today announced that its Board of Directors approved a stock repurchase program authorizing the repurchase of up to $150.0 million of the Company's common stock. Repurchases under the stock repurchase program may be made at management's discretion from time to time on the open market, in privately negotiated transactions or otherwise, in each case subject to compliance with all Securities and Exchange C
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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
NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that it has completed the previously announced acquisition of United Development Funding IV ("UDF IV") (the "Merger") pursuant to the terms of the Agreement and Plan of Merger, dated as of November 29, 2024, by and among Ready Capital, RC Merger Sub IV, LLC, and UDF IV. The combined company will conduct business under the name "Ready Capital Corporation" and will continue to trade on the New York Stock Exchange under the ticker symbol "RC." At the effective time of the Merger, each outstanding common share of beneficial interest, par value $0.01 per share, of
- GAAP LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $(1.80) -- DISTRIBUTABLE LOSS PER COMMON SHARE OF $(0.03) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.23 -- DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY BEFORE REALIZED LOSSES OF 7.1% -- DECLARED A QUARTERLY CASH DIVIDEND OF $0.125 PER SHARE OF COMMON STOCK AND OPERATING PARTNERSHIP UNIT FOR THE QUARTER ENDING MARCH 31, 2025 - NEW YORK, March 03, 2025 (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
Implores UDF IV Board to Postpone March 4 Special Meeting for One Month to Engage with NexPoint and Appropriately Evaluate Proposal NexPoint Will Not Vote at Special Meeting Without Due Consideration of Proposal DALLAS, Feb. 27, 2025 /PRNewswire/ -- NexPoint Advisors, L.P. (together with its affiliates "NexPoint") today announced NexPoint Real Estate Opportunities, LLC has submitted a competing proposal to the Board of Trustees of United Development Funding IV ("UDF IV" or "the Trust") ahead of the Special Meeting of UDF IV Shareholders (the "Meeting"), scheduled for March 4, 2025, to vote on the proposed merger of UDF IV with Ready Capital (NYSE: RC) (the "Ready Merger"). The confidential
NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the "Company") today announced that the Company will release its fourth quarter and full year 2024 financial results before the New York Stock Exchange opens on Monday, March, 3, 2025. Management will host a webcast and conference call on that same day at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter and year ended December 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 sectio
NEW YORK, Jan. 16, 2025 (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 investor- and owner-occupied commercial real estate loans, today announced that its Board of Directors approved a stock repurchase program authorizing the repurchase of up to $150.0 million of the Company's common stock. Repurchases under the stock repurchase program may be made at management's discretion from time to time on the open market, in privately negotiated transactions or otherwise, in each case subject to compliance with all Securities and Exchange C
NEW YORK, Dec. 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 December 31, 2024. This dividend is payable on January 31, 2025, to shareholders of record as of the close of business on December 31, 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 Compan
IRVING, Texas, Dec. 04, 2024 (GLOBE NEWSWIRE) -- United Development Funding IV ("UDF IV") announced today that on November 7, 2024, its board of trustees authorized a cash distribution of $0.065 per share, approximately $2 million in the aggregate, payable on December 31, 2024, to shareholders of record at the close of business on December 24, 2024 (the "Fourth Quarter Distribution"). On December 2, 2024, UDF IV announced that it entered into a definitive merger agreement pursuant to which Ready Capital Corporation (NYSE:RC) will acquire UDF IV (the "Merger"). The Merger is expected to close in the first half of 2025, subject to the approval of UDF IV shareholders and other customary clos
Adds scale and extends Ready Capital's core platform with UDF IV's proven land development lending platform Diversifies Ready Capital's portfolio and offers land development solution to borrowers and investors Expected to be accretive to Ready Capital's earnings and book value in 2025UDF IV shareholders may receive up to $5.89 per UDF share through a combination of: (i) pre-closing distributions of UDF IV's own cash from its balance sheet valued at up to $75 million, or $2.44 per share, (ii) shares issued at closing by Ready Capital for UDF IV shares valued at $94 million, or $3.07 per share, and (iii) contingent value rights with estimated future value of up to $12 million, or $0.
- 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
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Citizens JMP downgraded Ready Capital from Mkt Outperform to Mkt Perform
B. Riley Securities downgraded Ready Capital from Buy to Neutral and set a new price target of $10.00 from $12.00 previously
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
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4 - Ready Capital Corp (0001527590) (Issuer)
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