Headquartered in New York, NY Fiscal year ends December NYSE: RC readycapital.com
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company structured as a REIT. It originates, acquires, finances and services lower-to-middle-market (LMM) investor and owner-occupied commercial real estate loans.
It reports two operating segments:
- **LMM Commercial Real Estate:** bridge, construction, fixed-rate and agency multifamily loans, heavily weighted to multifamily collateral.
- **Small Business Lending:** U.S. Small Business Administration Section 7(a) loans, USDA loans, small/micro business loans and working capital loans, the latter partly acquired through the Funding Circle acquisition.
The company earns revenue from net interest income, gains on loan sales, and servicing income. Its servicing portfolio spans SBA, multifamily, USDA and small business loans.
RC is in a balance sheet repositioning phase. It is selling assets, deleveraging, refinancing corporate debt and working out a non-performing CRE loan book and real estate owned portfolio. The largest REO asset is a Portland, Oregon mixed-use property comprising a Ritz-Carlton hotel, Class A office and retail space, and branded condominium residences.
The company is externally advised under a related-party management agreement and employs over 400 professionals. Updated
With the 10-year U.S. Treasury bond currently yielding 4.38%, interest rates are still abnormally high given positive job growth, trillions of dollars in U.S. investments, wage growth among blue collar workers and…
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company structured as a REIT. It originates, acquires, finances and services lower-to-middle-market (LMM) investor and owner-occupied commercial real estate loans.
The Wall Street consensus 12-month price target for RC is $1.42.
