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.
Ready Capital Corporation (NYSE:RC) declared a quarterly cash dividend of $0.30 per share for the quarter ended September 30, 2020. The dividend will be payable on October 30, 2020, to shareholders of record by the close of business on September 30, 2020. This announcement reflects the company's ongoing commitment to returning value to shareholders while maintaining a focus on growth in the multifamily and commercial real estate sectors.
Ready Capital Corporation (NYSE: RC) reported solid financial results for Q2 2020, with a U.S. GAAP Net income of $34.7 million ($0.62 per share) and Core Earnings of $39.2 million ($0.70 per share). Highlights include originating a record $1.2 billion in residential mortgage loans and facilitating $2.7 billion in Paycheck Protection Program loans for over 40,000 businesses. The Company declared a $0.25 dividend per share and announced a $5 million increase in its stock repurchase program, now totaling $25 million.
Ready Capital Corporation (NYSE: RC) will announce its Q2 2020 financial results after market close on August 6, 2020. A conference call and webcast for investors will take place on August 7, 2020, at 8:30 AM ET, allowing management to discuss the financial outcomes and provide a business update. Investors are encouraged to use the webcast due to potential wait times for dial-in access. Ready Capital specializes in financing small- to medium-sized commercial loans backed by real estate, including agency multifamily and SBA loans.
Ready Capital Corporation (NYSE: RC) announced the completion of two securitizations totaling $609 million in Q2 2020. The first is a $405 million commercial real estate CLO backed by 56 floating-rate loans, with 80% sold to investors at LIBOR plus 236 basis points. The second is a $204 million securitization of 228 fixed-rate commercial loans, with 85% sold at an average interest rate of 4.0%. Proceeds reduced secured borrowings by $430 million and generated $60 million in cash. Unencumbered cash rose to $225 million from $122 million in Q1 2020.
Ready Capital Corporation (NYSE:RC) declared a $0.25 quarterly cash dividend per share for the quarter ended June 30, 2020. The dividend will be payable on July 31, 2020 to shareholders of record by the close of business on June 30, 2020.
Ready Capital focuses on originating and servicing small to medium balance commercial loans, particularly those backed by commercial real estate. Headquartered in New York City, it operates under external management from Waterfall Asset Management.