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.
Rhea-AI Summary
Ready Capital (NYSE: RC) announced its first quarter 2024 financial results will be released on May 8, 2024, followed by a webcast and conference call on May 9, 2024. The Company specializes in real estate finance, offering various loan types.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.29%
Tags
-
Rhea-AI Summary
Ready Capital (RC) declares quarterly cash dividends for common stock and preferred stocks, with $0.30 per share for common stock, $0.390625 per share for Series C Preferred Stock, and $0.40625 per share for Series E Preferred Stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.9%
Tags
-
Rhea-AI Summary
Ready Capital Corporation (RC) reported GAAP earnings per common share of $0.12 and distributable earnings per common share of $0.26, achieving a distributable return on average stockholders' equity of 7.5%. The company highlighted total investments of $449 million in the fourth quarter, with significant LMM and SBA 7(a) originations. Ready Capital also completed a merger with Broadmark Realty Capital Inc., initiated a stock repurchase program, and reported a net book value of $14.10 per share as of December 31, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.93%
Tags
Rhea-AI Summary
Ready Capital Corporation (RC) will release its Q4 and full year 2023 financial results on February 27, 2024. A webcast and conference call will follow the next day to discuss the results and provide a business update.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.23%
Tags
-
Rhea-AI Summary
Ethan Penner and Chad Carpenter announced the launch of Reven Office REIT, a U.S. office-focused real estate finance company aiming to raise $1 billion through a lead investor and a blind pool IPO. The company plans to provide financing solutions for office owners and investors, with a focus on first mortgages, mezzanine debt, and preferred equity. Reven Office REIT also plans to invest in distressed office debt and properties at attractive discounts, leveraging market dislocations. The company aims to capitalize on the current office market dislocation and a growing demand for financing, with a focus on institutional-quality Class A office properties in top markets. The company's leadership includes Ethan Penner as Chairman of the Board and Chad Carpenter as CEO, both with extensive experience in real estate and finance. The company aims to leverage its industry relationships to build a robust investment pipeline.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.52%
Tags
-
Rhea-AI Summary
Ready Capital Corporation (NYSE: RC) announced that its Affordable Multifamily division hit record volumes of approximately $1.1 billion in 2023, up more than 25% year-over-year. The division facilitated the preservation and creation of almost 6,000 affordable apartment homes across the United States through innovative financial products and services. Cody Langeness, Head of Affordable Multifamily, highlighted the speed and certainty of their underwriting, approvals, and closing process, as well as the potential for development growth in 2024 due to lower interest rates.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.2%
Tags
Rhea-AI Summary
Ready Capital Corporation (NYSE:RC) declared a quarterly cash dividend of $0.30 per share of common stock for the quarter ended December 31, 2023. The dividend is payable on January 31, 2024, reflecting the impact of lower leverage and portfolio yield compression due to the ongoing integration of the Broadmark portfolio. The company expects earnings to migrate towards historical return targets over the course of 2024 as increased liquidity is deployed into current market yields and underperforming assets in the Broadmark portfolio are repositioned into the company’s proven loan origination and acquisition products. Additionally, the company declared quarterly cash dividends on its 6.25% Series C Cumulative Convertible Preferred Stock and its 6.50% Series E Cumulative Redeemable Preferred Stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.97%
Tags
-
Rhea-AI Summary
Ready Capital Corporation (NYSE:RC) strengthens partnership with Esusu by donating to the Stable Home Fund, a 501(c)(3) charity providing rent relief funds for US renters in financial distress.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.23%
Tags
-
Rhea-AI Summary
Ready Capital Corporation (NYSE: RC) announced that Red Stone Tax Exempt Funding has rebranded to Ready Capital after a successful 2022 with over $730 million in origination volume. The company aims to maintain or exceed this level in 2023, focusing on providing affordable lending products for multifamily affordable housing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.99%
Tags
Rhea-AI Summary
Ready Capital Corporation (NYSE: RC) Reports Solid Q3 2023 Financial Results, Expecting Earnings Growth in Upcoming Quarters
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.21%
Tags
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
United States of America
NEW YORK