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Ready Capital Corporation - RC STOCK NEWS

Welcome to our dedicated page for Ready Capital Corporation news (Ticker: RC), a resource for investors and traders seeking the latest updates and insights on Ready Capital Corporation stock.

Ready Capital Corporation (NYSE: RC) is a leading real estate finance company based in the United States. The company focuses on originating, acquiring, financing, and servicing a variety of loan products, including small balance commercial (SBC) loans, Small Business Administration (SBA) loans, and residential mortgage loans. Ready Capital also invests in mortgage-backed securities primarily collateralized by SBC loans or other real estate-related investments.

The company operates through four main segments:

  • Acquisitions: This segment specializes in acquiring both performing and non-performing SBC loans.
  • SBC Originations: In this segment, Ready Capital originates SBC loans secured by stabilized or transitional investor properties. They use various loan origination channels and also offer multi-family loan products.
  • SBA Originations, Acquisitions, and Servicing: This segment focuses on acquiring, originating, and servicing owner-occupied loans that are guaranteed by the SBA.
  • Residential Mortgage Banking: This segment deals with the origination of residential mortgage loans.

Ready Capital is known for its diversified approach, leveraging its expertise across multiple loan types to achieve strong financial performance. Headquartered in New York, New York, the company employs over 600 lending professionals nationwide. Recent achievements include significant growth in loan origination volumes and strategic acquisitions aimed at enhancing the company’s portfolio and market position.

Ready Capital’s commitment to robust financial health is evident in its ongoing projects and partnerships. The company continuously seeks innovative solutions to meet the dynamic needs of its clients. Whether dealing with small business loans or substantial real estate investments, Ready Capital remains a pivotal player in the real estate finance sector.

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Ready Capital Corporation (NYSE: RC) has announced preliminary results from its tender offer for 6.25% Series C Cumulative Convertible Preferred Stock, which closed on April 30, 2021. The company plans to acquire approximately 445,320 shares at $25.14323 each, totaling around $11.2 million. This represents about 57% of the outstanding shares. Final results will be confirmed by May 3, 2021, with payments made after the confirmation process. American Stock Transfer & Trust Company is the paying agent for the offer.

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Ready Capital Corporation (NYSE: RC) will release its Q1 2021 financial results after the market closes on May 6, 2021. A conference call and webcast will take place on May 7, 2021, at 8:30 AM ET, to discuss the results and provide a business update. Investors are encouraged to use the webcast due to potential delays in the dial-in option. The company's focus includes originating and servicing commercial loans, particularly those backed by real estate.

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Ready Capital's National Bridge Originations Team has announced the successful closure of acquisition, refinance, renovation, and redevelopment loans totaling approximately $657 million across 11 states from January to March 2021. Significant transactions include:

  • $8.8 million for a Class A retail property in New York
  • $7.7 million for a 110-unit Class C multifamily property in Charlotte
  • $22.9 million refinancing for a 90-unit Class A multifamily property in Chicago

Overall, these deals are aimed at enhancing property values through strategic renovations and tenant stabilization.

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Ready Capital Corporation (NYSE: RC) closed a $629 million commercial mortgage collateralized loan obligation (CRE CLO), with a potential $139 million in future funding participation. The senior certificates received Aaa(sf) and AAA(sf) ratings from Moody's and KBRA, respectively. This marks the fifth CRE CLO issuance, totaling $1.8 billion in collateral. The portfolio includes 58 mortgage loans secured by 65 US properties, with 74% originated post-pandemic. Ready Capital continues to show strong momentum, closing over $650 million in bridge loans in Q1 2021.

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Ready Capital Corporation (NYSE: RC) has declared a $0.10 prorated dividend per share of common stock and operating partnership units, payable on April 30, 2021. This dividend, for shareholders of record as of April 5, 2021, follows the merger with Anworth Mortgage Asset Corporation completed on March 19, 2021. This payment comes in addition to a prior $0.30 dividend announced for the period from January 1 to March 18, 2021, which was paid on March 18, 2021.

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Ready Capital Corporation (NYSE:RC) announced its Board of Directors has declared quarterly cash dividends on its preferred stock. Shareholders will receive a dividend of $0.5390625 per share for Series B Preferred Stock, $0.390625 for Series C Preferred Stock, and $0.4765625 for Series D Preferred Stock, all payable on April 15, 2021. Record dates are set for March 31, 2021. Ready Capital specializes in financing small to medium balance commercial loans and is externally managed by Waterfall Asset Management.

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Ready Capital Corporation (NYSE: RC) and Anworth Mortgage Asset Corporation (NYSE: ANH) have finalized their merger as of March 19, 2021. Anworth's shares ceased trading on the NYSE following the merger. Under the merger terms, Anworth shareholders received 0.1688 shares of Ready Capital and $0.61 in cash for each Anworth common share. Furthermore, existing preferred stocks of Anworth were converted to newly designated preferred stocks of Ready Capital. Dominique Mielle from Anworth was appointed to Ready Capital’s board. This merger aims to enhance operational efficiency and growth for the combined entity.

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Ready Capital Corporation (NYSE: RC) and Anworth Mortgage Asset Corporation (NYSE: ANH) have successfully completed their merger as of March 19, 2021. Following the merger, Anworth's stock has ceased trading, and shareholders received a combination of Ready Capital shares and cash. Anworth's preferred stock has been converted into newly designated preferred stock of Ready Capital. This merger is expected to enhance operational efficiencies and establish Ready Capital as a leading mortgage REIT. The board of Ready Capital has also been expanded to include an independent director from Anworth.

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Ready Capital Corporation (NYSE: RC) announced the approval of its stockholders for the issuance of common stock related to its merger with Anworth Mortgage Asset Corporation at a special virtual meeting held on March 17, 2021. The merger is set to close on March 19, 2021, subject to customary conditions. Anworth's common stock will convert to 0.1688 shares of Ready Capital plus $0.61 in cash. The preferred stock conversions involve several series, transitioning Anworth's preferred shares to Ready Capital's corresponding preferred stock classes.

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Anworth Mortgage Asset Corporation (NYSE: ANH) has received stockholder approval for its merger with Ready Capital Corporation (NYSE: RC), set to close on March 19, 2021. Approximately 52.58% of outstanding shares were voted, with 95.24% in favor. Anworth shares will be converted into 0.1688 shares of Ready Capital stock and $0.61 in cash. Preferred stocks will also convert into corresponding Ready Capital preferred stocks. Anworth is expected to be delisted from the NYSE after the merger closes.

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FAQ

What is the current stock price of Ready Capital Corporation (RC)?

The current stock price of Ready Capital Corporation (RC) is $7.27 as of December 23, 2024.

What is the market cap of Ready Capital Corporation (RC)?

The market cap of Ready Capital Corporation (RC) is approximately 1.2B.

What does Ready Capital Corporation specialize in?

Ready Capital Corporation specializes in originating, acquiring, financing, and servicing small balance commercial (SBC) loans, Small Business Administration (SBA) loans, and residential mortgage loans.

What are the main segments of Ready Capital Corporation?

The main segments of Ready Capital Corporation are Acquisitions, SBC Originations, SBA Originations, Acquisitions, and Servicing, and Residential Mortgage Banking.

Where is Ready Capital Corporation headquartered?

Ready Capital Corporation is headquartered in New York, New York.

How many professionals does Ready Capital employ?

Ready Capital employs over 600 lending professionals nationwide.

What type of loans does the SBC Originations segment focus on?

The SBC Originations segment focuses on originating SBC loans secured by stabilized or transitional investor properties and multi-family loan products.

What is the role of the Acquisitions segment in Ready Capital Corporation?

The Acquisitions segment acquires both performing and non-performing SBC loans.

What is unique about the SBA Originations, Acquisitions, and Servicing segment?

This segment specializes in acquiring, originating, and servicing owner-occupied loans that are guaranteed by the SBA.

What kind of projects and partnerships is Ready Capital involved in?

Ready Capital is involved in projects and partnerships that focus on innovative solutions to meet dynamic client needs in various loan types including SBC, SBA, and residential mortgage loans.

What recent achievements has Ready Capital Corporation accomplished?

Recent achievements include significant growth in loan origination volumes and strategic acquisitions to enhance the company’s portfolio and market position.

How does Ready Capital Corporation maintain its financial health?

Ready Capital maintains its financial health by diversifying its loan portfolio, leveraging expertise across multiple loan types, and continuously seeking innovative solutions for its clients.

Ready Capital Corporation

NYSE:RC

RC Rankings

RC Stock Data

1.22B
166.71M
1%
61.4%
11.84%
REIT - Mortgage
Real Estate Investment Trusts
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United States of America
NEW YORK