Ready Capital Corporation Announces New Share Repurchase Program
Ready Capital (NYSE: RC) has announced a new stock repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to $150.0 million of the company's common stock. As a multi-strategy real estate finance company, Ready Capital focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans.
The repurchases can be executed through various channels, including open market, privately negotiated transactions, and under Rule 10b5-1 and Rule 10b-18 plans. Management will determine the timing and volume of repurchases based on market conditions, share price, legal requirements, and other factors.
Ready Capital (NYSE: RC) ha annunciato un nuovo programma di riacquisto di azioni autorizzato dal suo Consiglio di Amministrazione. Il programma consente il riacquisto di azioni ordinarie della società per un massimo di 150 milioni di dollari. Come società di finanza immobiliare a strategia multipla, Ready Capital si concentra sull'origine, acquisizione, finanziamento e assistenza di prestiti legati a immobili commerciali di mercato medio-basso.
I riacquisti possono essere eseguiti attraverso vari canali, inclusi il mercato aperto, transazioni privatamente negoziate, e nell'ambito dei piani Regola 10b5-1 e Regola 10b-18. La direzione determinerà il momento e il volume dei riacquisti in base alle condizioni di mercato, al prezzo delle azioni, ai requisiti legali e ad altri fattori.
Ready Capital (NYSE: RC) ha anunciado un nuevo programa de recompra de acciones autorizado por su Junta Directiva. El programa permite la recompra de hasta 150 millones de dólares de las acciones ordinarias de la compañía. Como una empresa de financiación inmobiliaria de múltiples estrategias, Ready Capital se enfoca en la originación, adquisición, financiación y servicio de préstamos comerciales en el mercado medio-bajo.
Las recompras pueden llevarse a cabo a través de varios canales, incluidos el mercado abierto, transacciones negociadas de forma privada, y bajo los planes de la Regla 10b5-1 y la Regla 10b-18. La gerencia determinará el momento y el volumen de las recompras basándose en las condiciones del mercado, el precio de las acciones, los requisitos legales y otros factores.
레디 캐피탈 (NYSE: RC)는 이사회에서 승인한 새로운 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 회사의 보통주를 최대 1억 5천만 달러까지 매입할 수 있도록 허용합니다. 다중 전략 부동산 금융 회사인 레디 캐피탈은 중하위 시장 상업용 부동산 대출의 기원, 인수, 금융 및 서비스를 중심으로 운영됩니다.
매입은 공개시장, 비공식 협상 거래 및 규칙 10b5-1과 규칙 10b-18 계획에 따라 다양한 경로를 통해 실행될 수 있습니다. 경영진은 시장 상황, 주식 가격, 법적 요구 사항 및 기타 요소를 고려하여 매입 시기와 규모를 결정할 것입니다.
Ready Capital (NYSE: RC) a annoncé un nouveau programme de rachat d'actions autorisé par son Conseil d'Administration. Le programme permet le rachat de jusqu'à 150 millions de dollars d'actions ordinaires de la société. En tant qu'entreprise de financement immobilier à multiples stratégies, Ready Capital se concentre sur l'origine, l'acquisition, le financement et le service de prêts immobiliers commerciaux de marché intermédiaire à bas.
Les rachats peuvent être exécutés par divers canaux, y compris le marché ouvert, des transactions négociées en privé, et conformément aux règlements 10b5-1 et 10b-18. La direction déterminera le moment et le volume des rachats en fonction des conditions du marché, du prix des actions, des exigences légales et d'autres facteurs.
Ready Capital (NYSE: RC) hat ein neues Aktienrückkaufprogramm bekannt gegeben, das von seinem Vorstand genehmigt wurde. Das Programm erlaubt den Rückkauf von bis zu 150 Millionen Dollar der Stammaktien des Unternehmens. Als Multi-Strategie-Unternehmen für Immobilienfinanzierung konzentriert sich Ready Capital auf die Origination, den Erwerb, die Finanzierung und den Service von gewerblichen Immobilienkrediten im unteren und mittleren Marktsegment.
Die Rückkäufe können über verschiedene Kanäle durchgeführt werden, einschließlich des offenen Marktes, privat ausgehandelter Transaktionen und im Rahmen der Regel 10b5-1 und der Regel 10b-18. Das Management wird den Zeitpunkt und das Volumen der Rückkäufe basierend auf Marktbedingungen, Aktienkurs, gesetzlichen Anforderungen und anderen Faktoren bestimmen.
- Board approval for substantial $150.0 million share repurchase program
- Potential increase in shareholder value through stock buyback
- Flexible implementation through multiple purchase channels
- Significant cash outlay could reduce funds available for core business operations
- Potential impact on company's liquidity position
Insights
The announcement of a
Share buybacks typically indicate that management believes the stock is undervalued and represents a better use of capital than alternative investments. In the current market environment, with interest rates potentially stabilizing, this move suggests Ready Capital sees an opportunity to enhance shareholder value. The flexibility in the repurchase program's execution, including the ability to use Rule 10b5-1 and Rule 10b-18 plans, provides management with various tactical options to implement the buyback efficiently.
For a real estate finance company like Ready Capital, this buyback program could help offset any potential book value dilution and improve key per-share metrics. It's particularly noteworthy given the company operates in the lower-to-middle-market commercial real estate sector, which has faced some headwinds but may be showing signs of stabilization.
This buyback announcement comes at an interesting time in the commercial real estate market cycle. With the sector facing challenges from higher interest rates and changing occupancy patterns, Ready Capital's willingness to allocate substantial capital to share repurchases suggests they see resilience in their lower-to-middle market focus. The
The market typically responds positively to buyback announcements of this magnitude relative to market cap. For context, a buyback of this size could reduce the outstanding share count significantly, potentially leading to improved earnings per share metrics. The open-ended nature of the program, without a specified timeframe, gives management tactical flexibility to take advantage of market volatility and potential stock price dislocations.
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
Safe Harbor Statement
This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, applicable regulatory changes; general volatility of the capital markets; changes in the Company’s investment objectives and business strategy; the Company’s ability to complete acquisitions and related transactions and to achieve expected synergies; the availability of financing on acceptable terms or at all; the availability, terms and deployment of capital; the availability of suitable investment opportunities; changes in the interest rates or the general economy; increased rates of default and/or decreased recovery rates on investments; changes in interest rates, interest rate spreads, the yield curve or prepayment rates; changes in prepayments of Company’s assets; the degree and nature of competition, including competition for the Company’s target assets; and other factors, including those set forth in the Risk Factors section of the Company’s most recent Annual Report on Form 10-K filed with the SEC, and other reports filed by the Company with the SEC, copies of which are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
About Ready Capital Corporation
Ready Capital Corporation (NYSE: RC) is 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. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, Ready Capital employs approximately 350 professionals nationwide. Ready Capital is externally managed and advised by Waterfall Asset Management, LLC.
Contact
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