Ready Capital: Another Distribution Cut Looks Probable [Seeking Alpha]
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Source: Seeking Alpha
The current distribution is not covered, and this quarter saw even more problems in the Broadmark loan book. We tell you what security we hold for this company and why we dumped the preferreds as well. I do much more than just articles at Conservative Income Portfolio: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » On our last coverage of Ready Capital Corporation ( NYSE: RC ) we stuck with the preferred shares and told investors that the large discount to NAV would likely not create large returns for them. For our part, we have stuck with Ready Capital Corporation 6.50% CUM PFD E ( RC.PR.E ). The very low levels of recourse leverage, alongside a management that is "ready" to deal with common shareholders in order to preserve tangible book value, make this a no-brainer. Since our entry in July 2022, the preferreds have actually done better than the common shares in total returns, despite having a smaller yield. They have also done
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News
- Ready Capital Corporation Announces First Quarter 2024 Results and Webcast Call [Yahoo! Finance]Yahoo! Finance
- Ready Capital Corporation Announces First Quarter 2024 Results and Webcast CallGlobeNewswire
- 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
RC
Earnings
- 2/27/24 - Miss
RC
Sec Filings
- 4/29/24 - Form 10-K/A
- 4/17/24 - Form SC
- 3/26/24 - Form 4
- RC's page on the SEC website