Ready Capital Corp

Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: Acquisitions, SBC Originations, SBA Originations, Acquisitions & Servicing, and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company's business strategy. The SBC Originations segment originates SBC loans secured by stabilized or transitional investor properties using multiple loan origination channels through its wholly-owned subsidiary, ReadyCap Commercial LLC. The SBA Originations, Acquisitions & Servicing segment acquires, originates and services owner-occupied loans guaranteed by the SBA through its wholly-owned subsidiary, ReadyCap Lending LLC. The Residential Mortgage Banking segment, through its wholly-owned subsidiary, GMFS LLC, originates residential mortgage loans eligible to be purchased, guaranteed or insured by Fannie Mae, Freddie Mac, FHA, USDA and VA through retail, correspondent and broker channels. The company was founded in 2011 and is headquartered in New York, NY.

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Ready Capital Corp to acquire Broadmark, anticipates strong growth

Ready Capital Corp's Q4 2022 performance showcased strength in loan originations, credit quality, and strategic acquisitions.
The merger with Broadmark Realty Capital is poised to enhance earnings, reduce leverage, and generate expense synergies for the company.
Challenges include impacts on realized gains, lack of specific full-year origination outlook, and complexities in the Broadmark deal execution.
Opportunities lie in increased liquidity post-acquisition, growth in SBA lending, and capital redeployment for new CRE originations and acquisitions.

Ready Capital Corp reports resilient performance amidst CRE market challenges

Ready Capital Corp navigated challenges in the CRE market with strong performance in core originations and credit metrics.
Despite non-recurring impacts on earnings, the company remains well positioned to maintain dividends and achieve its ROE target.
Opportunities lie in maintaining strong credit metrics, exploring potential acquisitions, and focusing on growth in key market segments.
Analysts' questions covered a range of topics including CECL reserve releases, distributable earnings, and balance sheet strategies.

Ready Capital Corp reports strong Q2 performance and eyes growth opportunities

Ready Capital Corp's Q2 2023 performance showcased robust loan portfolio growth and competitive credit metrics.
The company's strengths lie in the successful Broadmark acquisition, distributable earnings, and limited defaults in multifamily loans.
Challenges include upcoming maturities, potential risks in multifamily bridge loans, and headwinds from the Broadmark deal.
Opportunities for growth include optimizing capital structure, exploring new acquisitions, and capitalizing on multifamily market stabilization.

Ready Capital Corp reports strong Q3 performance amidst market caution

Ready Capital Corp (RC) demonstrated strong performance with successful Broadmark integration and improved liquidity, despite challenges in the CRE market.
The company's focus on cost synergies, credit metrics strength, and strategic rebranding position it well for future growth opportunities.
While challenges like portfolio yield drag and market uncertainties exist, Ready Capital's adaptability and focus on strategic opportunities are key strengths.

Ready Capital Corp reports 8.6% ROE for 2023, eyes strategic refinancing and growth opportunities

Ready Capital Corp's performance in 2023 was impacted by M&A effects and underperformance in certain business segments, leading to a distributable ROE of 8.6%. Despite challenges in delinquencies, the company is strategically focused on refinancing, leveraging debt, and exiting underperforming sectors. Opportunities lie in CLO issuance, SBA vertical growth, and accretive impacts from the Broadmark transaction.

Ready Capital Corp reports Q3 losses but eyes CRE market growth

Ready Capital Corp's Q3 performance reflects challenges with losses but also strengths in small business lending and market positioning.
Strategic initiatives and a well-positioned CRE market offer growth opportunities despite short-term challenges.
The company's focus on high-growth areas and future earnings expectations signal a path towards long-term success and market competitiveness.
Navigating through challenges while capitalizing on opportunities will be crucial for Ready Capital Corp's future financial performance and growth.

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Ready Capital Corp. is a real estate finance company, which engages in acquiring, managing, and financing small balance commercial loans. It operates through the following segments: SBC Lending and Acquisitions, Small Business Lending, and Residential Mortgage Banking. The SBC Lending and Acquisitions segment is involved in the SBC loans across the full life-cycle of an SBC property including construction, bridge, stabilized, and agency loan origination channels through wholly-owned subsidiary, ReadyCap Commercial, LLC. The Small Business Lending segment acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program through wholly-owned subsidiary, ReadyCap Lending, LLC. The Residential Mortgage Banking segment focuses on the residential mortgage loan origination segment through wholly-owned subsidiary, GMFS, LLC. The company was founded in November 2011 and is headquartered in New York, NY.

NEW YORK , Oct. 19, 2022 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today announced that it closed over $800 million across more than 60 commercial real estate loans during the three months ended September 30, 2022.  "Our clients have confidence in Ready Capital's proven ability to deliver certainty of execution," said Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

COMMITTED TO CERTAINTY OF EXECUTION, READY CAPITAL CLOSES OVER $800 MILLION IN COMMERCIAL REAL ESTATE LOANS DURING Q3 2022

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NEW YORK , Sept. 29, 2022 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today announced the Board of Directors authorized an increase in the size of the Company's existing stock repurchase program by an additional $25.0 million, bringing the total amount authorized under the program to $50.0 million.

READY CAPITAL CORPORATION ANNOUNCES INCREASE TO SHARE REPURCHASE PROGRAM

Barring a few quarters during the pandemic, RC's market price remained flat, and the dividend also remained pretty stable for a long period of time. RC generated an average yield in excess of 10 percent and is expected to continue the same way, as earnings are expected to grow at a steady rate.

Ready Capital: Steady Double-Digit Yields With Minimal Risk

NEW YORK , Sept. 15, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.42 per share of common stock and Operating Partnership unit for the quarter ended September 30, 2022.

READY CAPITAL CORPORATION DECLARES THIRD QUARTER 2022 DIVIDENDS

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Experienced Credit Professional Alistair Ho to Expand Operations of Waterfall's APAC Investing Business NEW YORK , Aug. 10, 2022 /PRNewswire/ -- Waterfall Asset Management, an alternative asset manager, today announced the establishment of its Hong Kong office to enhance its capabilities in the Asia-Pacific region. Alistair Ho, who recently joined the firm as Managing Director and Head of Asia-Pacific ("APAC"), has more than 18 years of experience in the region's credit markets, will lead the office.

Waterfall Asset Management Establishes Asia-Pacific Presence with Hong Kong Office and Senior Hire

Ready Capital Corporation (NYSE:RC ) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET Company Participants Andrew Ahlborn - CFO Tom Capasse - CEO Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Jade Rahmani - Keefe, Bruyette, & Woods Eric Hagen - BTIG Christopher Nolan - Ladenburg Thalmann Matthew Howlett - B. Riley Securities Operator Greetings, and welcome to the Ready Capital Corporation Second Quarter 2022 Earnings Conference Call.

Ready Capital Corporation (RC) CEO Tom Capasse on Q2 2022 Results - Earnings Call Transcript

Ready Capital (RC) delivered earnings and revenue surprises of -16.36% and 3.94%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Ready Capital (RC) Q2 Earnings and Revenues Lag Estimates

- GAAP EARNINGS PER COMMON SHARE OF $0.47 - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.48 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 13.1% - NEW YORK , Aug. 4, 2022 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today reported financial results for the quarter ended June 30, 2022. "Despite market volatility, Ready Capital's results are reflective of our ability to deploy capital across economic cycles," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

READY CAPITAL CORPORATION REPORTS SECOND QUARTER 2022 RESULTS

NEW YORK , Aug. 2, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its second quarter 2022 financial results after the New York Stock Exchange closes on Thursday, August 4, 2022.  Management will host a webcast and conference call on Friday, August 5, 2022 at 8:30 a.m.

Ready Capital Corporation Announces Second Quarter 2022 Results and Webcast Call

LONDON and NEW YORK , July 13, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced Starz Real Estate (Starz), a pan-European commercial real estate lending platform has formed a new joint venture with Ready Capital Corporation (NYSE: RC), a commercial mortgage REIT headquartered in New York, to originate circa €300m of new commercial real estate loans over the next two years. The new joint venture will focus on deploying commercial real estate bridge and term loans between €10m and €40m in size across the UK, Benelux, Dach Region, Italy and Portugal with up to 75% LTV across sectors including office, residential, mixed use, student housing, logistics, self-storage, and selective retail and hotel opportunities.

Starz Real Estate forms new €300M JV with Ready Capital

Recent Securitizations add to Liquidity and Balance Sheet Strength NEW YORK , July 12, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced robust origination activity for its commercial real estate and small business lending platforms during the second quarter of 2022, supported by successful capital raising and securitization activity.  During the quarter, Ready Capital originated an aggregate $1.2 billion in commercial real estate and small business lending volume.

Ready Capital Corporation Announces Growth in Origination Activity and Expanded Access to Capital

Attractive dividend yield of 13.65% with a sustainable growth prospect. Strategic Merger with Mosaic Real Estate to provide the firm with a market-leading commercial real estate investment platform.

Ready Capital: 13.65% Dividend Yield With Favorable Risk-Reward Profile

NEW YORK , June 15, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") announced that its Board of Directors declared a quarterly cash dividend of $0.42 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2022. This dividend is payable on July 29, 2022 to shareholders of record as of the close of business on June 30, 2022.

READY CAPITAL CORPORATION DECLARES SECOND QUARTER 2022 DIVIDENDS

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NEW YORK , May 9, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced another Company record for small loan closings (loans from $10,000 to $350,000) funding over fifty-five (55) SBA 7(a) small loans in April. The Company attributes this success and continuous growth to using a technology platform called LenderAI by iBusiness Funding LLC ("iBusiness Funding"), which is now available to all lenders.

Ready Capital Small Business Lending Scales Up with LenderAI

Ready Capital Corporation (NYSE:RC ) Q1 2022 Earnings Conference Call May 6, 2022 8:30 AM ET Company Participants Andrew Ahlborn - CFO Tom Capasse - CEO Conference Call Participants Crispin Love - Piper Sandler Stephen Laws - Raymond James Jade Rahmani - KBW Matthew Howlett - B. Riley Operator Good morning and welcome to the Ready Capital Corporation's First Quarter 2022 Earnings Conference Call.

Ready Capital Corporation's (RC) CEO Tom Capasse on Q1 2022 Results - Earnings Call Transcript

- GAAP EARNINGS PER COMMON SHARE OF $0.70 - - DISTRIBUTABLE EARNINGS PER COMMON SHARE OF $0.52 - - DISTRIBUTABLE RETURN ON AVERAGE STOCKHOLDERS' EQUITY OF 13.6% - NEW YORK, May 5, 2022 /PRNewswire/ -- Ready Capital Corporation ("Ready Capital" or the "Company") (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services small-to-medium balance commercial loans, today reported financial results for the quarter ended March 31, 2022. "Ready Capital's first quarter results are reflective of our sustained expansion of our core lending channels, the addition of complimentary lending products and the ongoing growth of our business," commented Thomas Capasse, Ready Capital's Chairman and Chief Executive Officer.

READY CAPITAL CORPORATION REPORTS FIRST QUARTER 2022 RESULTS

While recurring revenues and inorganic moves are expected to have aided, a normalization in residential originations in Q1 is likely to have marred Ready Capital's (RC) performance.

What's in Store for Ready Capital (RC) This Earnings Season?

NEW YORK , April 27, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (the "Company") today announced that the Company will release its first quarter 2022 financial results after the New York Stock Exchange closes on Thursday, May 5, 2022.  Management will host a webcast and conference call on Friday, May 6, 2022 at 8:30 a.m.

Ready Capital Corporation Announces First Quarter 2022 Results and Webcast Call

NEW YORK , April 26, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced more than $1.9 billion in closed origination for its National Bridge Lending Platform. During the first quarter, Ready Capital closed more than 70 bridge loans totaling more than $1.9 billion.

Ready Capital Closes in Excess of $1.9 Billion in Bridge Financing During First Quarter of 2022

NEW YORK, April 18, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it closed an underwritten public offering of $120.00 million aggregate principal amount of  6.125% senior unsecured notes due 2025 (the "Notes").  The issue price to investors was $1,000.00 per Note.

Ready Capital Corporation Announces Closing of Public Sale of Senior Notes Due 2025

NEW YORK , April 8, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced that it has priced an underwritten public offering of $120 million aggregate principal amount of its 6.125% senior unsecured notes due April 30, 2025.  The offering is expected to close on April 18, 2022 and is subject to customary closing conditions.

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