Real Estate - REIT - Mortgage - NYSE - US
$ 7.02
-0.707 %
$ 1.18 B
Market Cap
-8.77
P/E
Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through three segments: SBC Lending and Acquisitions; Small Business Lending; and Residential Mortgage Banking. The SBC Lending and Acquisitions segment, through its subsidiary, ReadyCap Commercial, LLC, originate SBC loans secured by stabilized or transitional investor properties using various loan origination channels. The Small Business Lending segment, through its subsidiary, ReadyCap Lending, LLC, acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program.[ Read More ]
The intrinsic value of one RC stock under the base case scenario is HIDDEN Compared to the current market price of 7.02 USD, Ready Capital Corporation is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart RC
FINANCIALS
1.15 B
REVENUE
879 M
OPERATING INCOME
351 M
NET INCOME
54.1 M
OPERATING CASH FLOW
1.02 B
INVESTING CASH FLOW
-1.13 B
FINANCING CASH FLOW
56.3 M
REVENUE
-7.47 M
OPERATING INCOME
-2.06 M
NET INCOME
313 M
OPERATING CASH FLOW
324 M
INVESTING CASH FLOW
-645 M
FINANCING CASH FLOW
Balance Sheet Decomposition
Ready Capital Corporation
| Current Assets | 273 M |
| Cash & Short-Term Investments | 142 M |
| Receivables | 131 M |
| Other Current Assets | 0 |
| Non-Current Assets | 7.83 B |
| Long-Term Investments | 7.06 B |
| PP&E | 2.54 M |
| Other Non-Current Assets | 769 M |
| Current Liabilities | 345 M |
| Accounts Payable | 41.6 M |
| Short-Term Debt | 150 M |
| Other Current Liabilities | 154 M |
| Non-Current Liabilities | 7.11 B |
| Long-Term Debt | 7.09 B |
| Other Non-Current Liabilities | 11.3 M |
EFFICIENCY
Earnings Waterfall
Ready Capital Corporation
| Revenue | 1.15 B |
| Cost Of Revenue | 757 M |
| Gross Profit | 389 M |
| Operating Expenses | 163 M |
| Operating Income | 879 M |
| Other Expenses | 528 M |
| Net Income | 351 M |
RATIOS
33.92%
GROSS MARGIN
76.77%
OPERATING MARGIN
29.64%
NET MARGIN
13.32%
ROE
2.73%
ROA
8.81%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Ready Capital Corporation
| Net Income | 351 M |
| Depreciation & Amortization | 20.2 M |
| Capital Expenditures | 0 |
| Stock-Based Compensation | 7.55 M |
| Change in Working Capital | -83.2 M |
| Others | -361 M |
| Free Cash Flow | 54.1 M |
Wall Street Analysts Price Targets
Ready Capital Corporation
Wall Street analysts predict an average 1-year price target for RC of $9.33 , with forecasts ranging from a low of $8 to a high of $11 .
RC Lowest Price Target
Wall Street Target
8 USD
13.96%
RC Average Price Target
Wall Street Target
9.33 USD
32.95%
RC Highest Price Target
Wall Street Target
11 USD
56.70%
4. DIVIDEND ANALYSIS
4.23%
DIVIDEND YIELD
0.25 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Ready Capital Corporation
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
82.9 K USD 1
3-6 MONTHS
212 K USD 2
6-9 MONTHS
0 USD 0
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
5 months ago
May 24, 2024
|
Bought 82.9 K USD
|
NATHAN GILBERT E
Director |
+ 10000
|
8.286 USD |
|
7 months ago
Mar 22, 2024
|
Bought 19.6 K USD
|
NATHAN GILBERT E
Director |
+ 2150
|
9.1297 USD |
|
7 months ago
Mar 22, 2024
|
Bought 63.8 K USD
|
NATHAN GILBERT E
Director |
+ 7000
|
9.1189 USD |
|
8 months ago
Mar 14, 2024
|
Bought 86.5 K USD
|
NATHAN GILBERT E
Director |
+ 10000
|
8.6475 USD |
|
8 months ago
Mar 05, 2024
|
Bought 42.1 K USD
|
LUEBBERS KEVIN M
Director |
+ 5000
|
8.4297 USD |
|
1 year ago
Aug 15, 2023
|
Sell 285 K USD
|
Capasse Thomas E
CEO and CIO |
- 26623
|
10.7 USD |
|
1 year ago
Mar 08, 2023
|
Bought 42.4 K USD
|
NATHAN GILBERT E
Director |
+ 3841
|
11.05 USD |
|
1 year ago
Mar 07, 2023
|
Bought 54.8 K USD
|
NATHAN GILBERT E
Director |
+ 5000
|
10.9546 USD |
|
1 year ago
Mar 03, 2023
|
Bought 56 K USD
|
Mielle Dominique
Director |
+ 5000
|
11.1997 USD |
|
1 year ago
Mar 03, 2023
|
Bought 50.1 K USD
|
Mielle Dominique
Director |
+ 2500
|
20.05 USD |
|
2 years ago
Aug 26, 2022
|
Sell 20.2 K USD
|
Ahlborn Andrew
Chief Financial Officer |
- 1465
|
13.8 USD |
|
2 years ago
Aug 29, 2022
|
Sell 41.9 K USD
|
Ahlborn Andrew
Chief Financial Officer |
- 3035
|
13.8 USD |
|
2 years ago
Nov 30, 2021
|
Bought 492 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 20000
|
24.5871 USD |
|
2 years ago
Nov 30, 2021
|
Bought 30.6 K USD
|
NATHAN GILBERT E
Director |
+ 2000
|
15.2894 USD |
|
2 years ago
Nov 29, 2021
|
Bought 15.5 K USD
|
NATHAN GILBERT E
Director |
+ 1000
|
15.5099 USD |
|
3 years ago
Nov 15, 2021
|
Bought 31.7 K USD
|
NATHAN GILBERT E
Director |
+ 2000
|
15.84 USD |
|
3 years ago
Nov 12, 2021
|
Bought 32.4 K USD
|
Petro Andrea
Director |
+ 2000
|
16.2 USD |
|
3 years ago
Aug 16, 2021
|
Bought 49.7 K USD
|
Petro Andrea
Director |
+ 3300
|
15.06 USD |
|
3 years ago
May 24, 2021
|
Bought 44 K USD
|
NATHAN GILBERT E
Director |
+ 3000
|
14.6632 USD |
|
3 years ago
May 13, 2021
|
Bought 67.4 K USD
|
Petro Andrea
Director |
+ 4750
|
14.18 USD |
|
3 years ago
May 11, 2021
|
Bought 54.6 K USD
|
NATHAN GILBERT E
Director |
+ 4000
|
13.6589 USD |
|
3 years ago
May 11, 2021
|
Sell 0 USD
|
NATHAN GILBERT E
Director |
- 0
|
15.63 USD |
|
4 years ago
May 22, 2020
|
Bought 0 USD
|
NATHAN GILBERT E
Director |
+ 0
|
16.37 USD |
|
4 years ago
May 20, 2020
|
Bought 49.8 K USD
|
Taylor Gary
Chief Operating Officer |
+ 8250
|
6.039 USD |
|
4 years ago
May 14, 2020
|
Bought 0 USD
|
NATHAN GILBERT E
Director |
+ 0
|
16.37 USD |
|
4 years ago
Mar 19, 2020
|
Bought 20.8 K USD
|
Ahlborn Andrew
Chief Financial Officer |
+ 3272
|
6.3638 USD |
|
4 years ago
Mar 18, 2020
|
Bought 63.3 K USD
|
Buttacavoli Thomas
Chief Investment Officer |
+ 10000
|
6.3338 USD |
|
4 years ago
Mar 18, 2020
|
Bought 25.1 K USD
|
Sinai Todd M.
Director |
+ 4000
|
6.2658 USD |
|
4 years ago
Mar 19, 2020
|
Bought 11.9 K USD
|
NATHAN GILBERT E
Director |
+ 2000
|
5.9389 USD |
|
4 years ago
Mar 18, 2020
|
Bought 10.7 K USD
|
NATHAN GILBERT E
Director |
+ 2000
|
5.3663 USD |
|
4 years ago
Mar 18, 2020
|
Bought 123 K USD
|
REESE J MITCHELL
Director |
+ 20000
|
6.1429 USD |
|
4 years ago
Mar 16, 2020
|
Bought 239 K USD
|
Ross Jack J.
President |
+ 25000
|
9.5433 USD |
|
4 years ago
Mar 13, 2020
|
Bought 193 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 19000
|
10.1752 USD |
|
4 years ago
Mar 13, 2020
|
Bought 173 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 17000
|
10.174 USD |
|
4 years ago
Mar 13, 2020
|
Bought 148 K USD
|
Buttacavoli Thomas
Chief Investment Officer |
+ 15000
|
9.8665 USD |
|
5 years ago
May 15, 2019
|
Bought 51.6 K USD
|
Sinai Todd M.
Director |
+ 3500
|
14.7399 USD |
|
5 years ago
May 15, 2019
|
Sell 36.9 K USD
|
Sinai Todd M.
Director |
- 2500
|
14.7489 USD |
|
5 years ago
May 15, 2019
|
Sell 51.6 K USD
|
Sinai Todd M.
Director |
- 3500
|
14.7401 USD |
|
5 years ago
Nov 26, 2018
|
Bought 135 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 9112
|
14.8605 USD |
|
5 years ago
Nov 21, 2018
|
Bought 41.9 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 2888
|
14.52 USD |
|
5 years ago
Nov 21, 2018
|
Bought 116 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 8000
|
14.52 USD |
|
7 years ago
Nov 30, 2016
|
Bought 39.8 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 3000
|
13.25 USD |
|
7 years ago
Nov 30, 2016
|
Bought 13.1 K USD
|
Sinai Todd M.
Director |
+ 1000
|
13.14 USD |
|
7 years ago
Nov 29, 2016
|
Bought 13.2 K USD
|
Sinai Todd M.
Director |
+ 1000
|
13.15 USD |
|
7 years ago
Nov 28, 2016
|
Bought 196 K USD
|
REESE J MITCHELL
Director |
+ 15000
|
13.06 USD |
|
7 years ago
Nov 28, 2016
|
Bought 132 K USD
|
HERBST FREDERICK C
Chief Financial Officer |
+ 10000
|
13.15 USD |
|
7 years ago
Nov 25, 2016
|
Bought 503 K USD
|
Ross Jack J.
President |
+ 39000
|
12.9 USD |
|
7 years ago
Nov 29, 2016
|
Bought 13.7 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 1043
|
13.15 USD |
|
7 years ago
Nov 28, 2016
|
Bought 131 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 10000
|
13.07 USD |
|
7 years ago
Nov 25, 2016
|
Bought 64.5 K USD
|
Capasse Thomas E
Chief Executive Officer |
+ 5000
|
12.9 USD |
|
10 years ago
Aug 26, 2014
|
Bought 16.5 K USD
|
Ogilvie Marran H.
Director |
+ 860
|
19.15 USD |
|
10 years ago
Aug 25, 2014
|
Bought 13.2 K USD
|
Ogilvie Marran H.
Director |
+ 700
|
18.9 USD |
|
10 years ago
Aug 21, 2014
|
Bought 9.36 K USD
|
Motani Nisha
Chief Accounting Officer |
+ 500
|
18.72 USD |
|
10 years ago
Aug 21, 2014
|
Bought 24.3 K USD
|
Motani Nisha
Chief Accounting Officer |
+ 1300
|
18.72 USD |
|
10 years ago
Aug 19, 2014
|
Bought 568 K USD
|
Zugel Christian
Director |
+ 30000
|
18.93 USD |
|
10 years ago
Aug 20, 2014
|
Bought 12 K USD
|
Ogilvie Marran H.
Director |
+ 640
|
18.68 USD |
|
10 years ago
Aug 19, 2014
|
Bought 9.37 K USD
|
Ogilvie Marran H.
Director |
+ 500
|
18.74 USD |
|
10 years ago
Aug 18, 2014
|
Bought 98 K USD
|
Szymanski Michael
CEO, President and Director |
+ 5300
|
18.5 USD |
|
10 years ago
Aug 18, 2014
|
Bought 49.3 K USD
|
Zinn James
Director |
+ 2650
|
18.59 USD |
|
10 years ago
Aug 19, 2014
|
Bought 56.4 K USD
|
Mudge Daniel
Director |
+ 3000
|
18.8 USD |
|
10 years ago
Aug 18, 2014
|
Bought 18.7 K USD
|
Hargrave Brian
Chief Investment Officer |
+ 1000
|
18.69 USD |
|
11 years ago
Sep 06, 2013
|
Bought 14.2 K USD
|
Motani Nisha
Chief Accounting Officer |
+ 900
|
15.81 USD |
|
11 years ago
Sep 03, 2013
|
Bought 78.4 K USD
|
McDade Paul
CFO & Treasurer |
+ 5000
|
15.69 USD |
|
11 years ago
Sep 04, 2013
|
Bought 7.85 K USD
|
Reimer Eric
Director |
+ 500
|
15.7 USD |
|
11 years ago
Sep 03, 2013
|
Bought 141 K USD
|
Reimer Eric
Director |
+ 9000
|
15.71 USD |
|
11 years ago
Sep 04, 2013
|
Bought 50.3 K USD
|
Zinn James
Director |
+ 3200
|
15.72 USD |
|
11 years ago
Sep 03, 2013
|
Bought 393 K USD
|
Zugel Christian
Chairman of the Board |
+ 25000
|
15.72 USD |
|
11 years ago
Sep 03, 2013
|
Bought 78.6 K USD
|
Zugel Christian
Chairman of the Board |
+ 5000
|
15.71 USD |
|
11 years ago
Sep 04, 2013
|
Bought 20.4 K USD
|
Ogilvie Marran H.
Director |
+ 1300
|
15.71 USD |
|
11 years ago
Sep 03, 2013
|
Bought 17.3 K USD
|
Ogilvie Marran H.
Director |
+ 1100
|
15.71 USD |
|
11 years ago
Sep 03, 2013
|
Bought 47.1 K USD
|
Mudge Daniel
Director |
+ 3000
|
15.71 USD |
|
11 years ago
Sep 03, 2013
|
Bought 106 K USD
|
Szymanski Michael
CEO, Pres and Director |
+ 6400
|
16.5 USD |
|
11 years ago
Sep 04, 2013
|
Bought 15.7 K USD
|
Hargrave Brian
Chief Investment Officer |
+ 1000
|
15.74 USD |
|
11 years ago
Apr 04, 2013
|
Bought 15.5 K USD
|
Ogilvie Marran H.
Director |
+ 750
|
20.69 USD |
|
11 years ago
Feb 08, 2013
|
Bought 99.8 K USD
|
Szymanski Michael
CEO, Pres and Director |
+ 5000
|
19.9622 USD |
|
11 years ago
Feb 08, 2013
|
Bought 200 K USD
|
Zugel Christian
Chairman of the Board |
+ 10000
|
20.02 USD |
|
11 years ago
Feb 08, 2013
|
Bought 99.8 K USD
|
Crowley Denise
Director |
+ 5000
|
19.9619 USD |
|
11 years ago
Feb 12, 2013
|
Bought 5.89 K USD
|
Hargrave Brian
Chief Investment Officer |
+ 300
|
19.638 USD |
|
11 years ago
Feb 11, 2013
|
Bought 5.92 K USD
|
Hargrave Brian
Chief Investment Officer |
+ 300
|
19.725 USD |
|
11 years ago
Feb 08, 2013
|
Bought 7.98 K USD
|
Hargrave Brian
Chief Investment Officer |
+ 400
|
19.9585 USD |
7. News
3 High Yield October Dividend Payers: Blackstone, Ready Capital And Medical Property Trust
My portfolio, Rose's Income Garden (RIG), is highly diversified with 84 investments across all 11 sectors, ensuring resilience against market fluctuations. Despite three dividend cuts in October, I retain Medical Properties Trust, Blackstone Mortgage Trust, and Ready Capital due to their high yields and recovery potential. High-yield investments can be risky but rewarding; my portfolio's value is up 15.54% YTD, close to the DOW, and has a 5.4% yield.
seekingalpha.com
- 3 days ago
Ready Capital Corporation (RC) Q3 2024 Earnings Call Transcript
Ready Capital Corporation (NYSE:RC ) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Office Thomas Capasse - Chief Executive Officer Andrew Ahlborn - Chief Credit Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Douglas Harter - UBS Jade Rahmani - KBW Stephen Laws - Raymond James Christopher Nolan - Landenburg Thalmann Matt Howlett - B. Riley Securities Operator Greetings, and welcome to the Ready Capital Third Quarter 2024 Earnings Call.
seekingalpha.com
- 1 week ago
Here's What Key Metrics Tell Us About Ready Capital (RC) Q3 Earnings
Although the revenue and EPS for Ready Capital (RC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
zacks.com
- 1 week ago
Ready Capital (RC) Q3 Earnings Surpass Estimates
Ready Capital (RC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.28 per share a year ago.
zacks.com
- 1 week ago
Ready Capital Corporation Announces Third Quarter 2024 Results and Webcast Call
NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its third quarter 2024 financial results after the New York Stock Exchange closes on Thursday, November 7, 2024. Management will host a webcast and conference call on Friday, November 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended September 30, 2024.
globenewswire.com
- 2 weeks ago
3 Shares Yielding Over 9%
We've got three shares where big yields are offset by one flaw or another. I recently closed out my position in one of these shares for a gain of more than 40%. Great choice about 17 months ago. Not as great today. I'll include an alternative from my portfolio that still offers an attractive yield for investors.
seekingalpha.com
- 1 month ago
Readers Identify 25 Ideal September Dividend Buys Out Of 39 Picks
Since May 2017, any dividend-paying stock mentioned by readers is included in my reader favorite listings, highlighting potential opportunities and risks. My stock lists aim to identify promising dividend stocks, using a contrarian investing strategy, primarily for new buyers seeking high-yield opportunities. Reader feedback is crucial for correcting errors and refining strategies, including suggestions for buy-and-hold stocks and option strategies for monthly dividends.
seekingalpha.com
- 1 month ago
Ready Capital: When Is The Final Dividend Cut?
Ready Capital's dividend cut to $0.25 per share marks a significant sequential reduction, with a current yield of 14%, significantly above pre-pandemic levels. RC's net book value has declined to $12.97 per share with the commons trading at a 45% discount. The mREIT plans to bridge dividend coverage by focusing on small business loans, exiting residential mortgage banking, and increasing leverage.
seekingalpha.com
- 1 month ago
Is the Options Market Predicting a Spike in Ready Capital (RC) Stock?
Investors need to pay close attention to Ready Capital (RC) stock based on the movements in the options market lately.
zacks.com
- 1 month ago
5 Shares Yielding 8% To 11%
We've got 5 shares in here plus a bonus. It's like 6, but easier to click. Some of these deals look better than others. Ex-dividend dates are coming up pretty soon for a few of them.
seekingalpha.com
- 1 month ago
The High Yield Desert
I frequently discuss high-yield sectors like mortgage REITs, BDCs, and preferred shares, emphasizing the importance of knowing when not to buy. Preferred shares have rallied above targets, reducing buying opportunities, while common shares offer higher risks. Some offer upside, but others mostly offer downside. I'll kick off the weekend by highlighting one with a high valuation, as investors pay top dollar for earnings that are about to melt away.
seekingalpha.com
- 1 month ago
Ready Capital Corporation Declares Third Quarter 2024 Dividends
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended September 30, 2024. This dividend is payable on October 31, 2024, to shareholders of record as of the close of business on September 30, 2024.
globenewswire.com
- 2 months ago
8. Profile Summary
Ready Capital Corporation RC
COUNTRY
US
INDUSTRY
REIT - Mortgage
MARKET CAP
$ 1.18 B
Dividend Yield
4.23%
Description
Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through three segments: SBC Lending and Acquisitions; Small Business Lending; and Residential Mortgage Banking. The SBC Lending and Acquisitions segment, through its subsidiary, ReadyCap Commercial, LLC, originate SBC loans secured by stabilized or transitional investor properties using various loan origination channels. The Small Business Lending segment, through its subsidiary, ReadyCap Lending, LLC, acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program. The Residential Mortgage Banking segment, through its subsidiary, GMFS, LLC, originates residential mortgage loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.
Contact
1251 Avenue of the Americas, New York, NY, 10020
https://www.readycapital.com
IPO Date
Feb. 8, 2013
Employees
350
Officers
Mr. Andrew Ahlborn CPA
Chief Financial Officer & Secretary
Mr. Gary T. Taylor
Chief Operating Officer
Mr. Adam Zausmer
Chief Credit Officer
Mr. Thomas Edward Capasse
Chairman, Chief Executive Officer & Chief Investment Officer
Mr. Jack Jay Ross CPA
President & Director
Mr. Brian Dunn
Director of Finance Division
Mr. Alex Ovalle
MD & National Sales Manager
Mr. Richard Katzenstein
MD & Head of Strategic Partnerships
David A. Cohen
MD & Co-Head of the National Bridge Lending Platform