Ready Capital: Trading At A Deeper Discount Than Is Warranted [Seeking Alpha]
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Source: Seeking Alpha
SummaryThis diversified mortgage REIT originates, acquires and services commercial loans, conducts residential mortgage banking and serves as a lender for the SBA’s Paycheck Protection Program.Ready Capital is trading at a 43.4% discount to book value.RC has a $4.2B loan portfolio composed of approximately 4500 loans with an average balance of about $900,000.90% of these loans are current on payments as of April 30th.99% of the loan portfolio are 1st liens with a 60% average LTV.Investment ThesisDuring the recent market selloff, Ready Capital (Ready Capital’s Primary Operating Segments:SBC OriginationsSmall to medium balance commercial (SBC) loans are originated by RC’s wholly-owned subsidiary, ReadyCap Commercial, LLC. Some of these loans are placed into securitized structures, whereas others are held on the balance sheet as investments. Freddie Mac’s (OTCQB:FMCCSource: Company Investor Presentation (Data as of 03/31/2020)SBA Originations, Acquisitions and ServicingReady Capital also
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News
- Ready Capital: Inability To Stabilize Earnings Against Headwinds Makes It A Hold [Seeking Alpha]Seeking Alpha
- More 9% Dividend Yields Again? I'm Also Buying This One [Seeking Alpha]Seeking Alpha
- Ready Capital Co. (NYSE: RC) had its price target lowered by analysts at UBS Group AG from $10.50 to $9.50. They now have a "neutral" rating on the stock.MarketBeat
- IBHE: 7.2% With 1 Year Bonds [Seeking Alpha]Seeking Alpha
- Ready Capital Corporation Declares First Quarter 2024 DividendsGlobeNewswire
RC
Earnings
- 2/27/24 - Miss
RC
Sec Filings
- 4/17/24 - Form SC
- 3/26/24 - Form 4
- 3/18/24 - Form 4
- RC's page on the SEC website