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 |
|---|---|---|---|
| 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 |
| 10/20/2022 | $11.00 | Neutral | UBS |
4 - Ready Capital Corp (0001527590) (Issuer)
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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, 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
UDF IV's Plan "Not to Reconvene the Annual Meeting" is Unacceptable Outcome for Shareholders NexPoint Urges UDF IV to Reconvene Meeting Following Full Disclosure of Ready Capital Transaction Details and to Disclose Amount of Shareholder Funds Used on Advisors for an Annual Meeting it has Failed to Hold DALLAS, Dec. 12, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today issued a statement regarding the "adjournment" of the United Development Funding IV ("UDF IV" or the "Company") Annual Meeting of Shareholders ("Annual Meeting") due to a lack of quorum and the Company's statement that it will not reconvene the Meeting. NexPoint provi
NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that it closed an underwritten public offering of $130 million aggregate principal amount of 9.00% Senior Notes due 2029 (the "Notes"), including $15 million aggregate principal amount relating to the partial exercise of the underwriters' over-allotment option. The Notes were issued in minimum denominations and integral multiples of $25.00. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co.,
Declines to Appear at Annual Meeting, Calls for Adjournment of Meeting Until UDF IV Provides Proper Disclosure on Recently Announced Merger with Ready Capital DALLAS, Dec. 10, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today announced it will not appear nor vote any proxies at the United Development Funding IV ("UDF IV" or the "Company") Annual Meeting of Shareholders ("Annual Meeting") being held today, December 10, 2024. NexPoint remains concerned about the Company's planned acquisition by Ready Capital (NYSE:RC), which UDF IV announced last week in an apparent attempt to influence today's vote at the Annual Meeting. Not only doe
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
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of $115.0 million aggregate principal amount of 9.00% Senior Notes due 2029 (the "Notes"). The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day over-allotment option to purchase up to an additional $17.25 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) ("Ready Capital" or the "Company") today announced that it is commencing an underwritten public offering of senior unsecured notes due 2029 (the "Notes"). The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. The maturity, interest rate and other terms of the Notes will be determined at the time of pricing the offering. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC are serving as book-running managers for the off
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
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
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4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
4 - Ready Capital Corp (0001527590) (Issuer)
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
UBS initiated coverage of Ready Capital with a rating of Neutral and set a new price target of $11.00
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
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
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