Ready Capital: Big Write-Down On Broadmark Assets [Seeking Alpha]
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Company Research
Source: Seeking Alpha
The company made a big mistake by pursuing Broadmark. We look at the large write-down this quarter and assess the damage. 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 » Ready Capital Corporation ( NYSE: RC ) is a mortgage REIT, which in the company's own words means that it "originates, acquires, finances and services small-to-medium-sized balance commercial loans". We have covered this lender a few times on Seeking Alpha, the last time being after the Q4-2023 results were published. The business was using relatively less leverage compared to late 2022 and the distributable earnings, as expected, were following the same direction. The past due loans were considerably higher than the prior quarter and were almost a billion. We continue to remain on the sidelines vis a vis its equity. At present we are not interested in buying this as management made a big blunder b
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RC
News
- Ready Capital Corporation Declares Second Quarter 2024 DividendsGlobeNewswire
- Ready Capital Announces Acquisition of Madison One [Yahoo! Finance]Yahoo! Finance
- Ready Capital Announces Acquisition of Madison OneGlobeNewswire
- Ready Capital to Present at Nareit’s REITweek 2024GlobeNewswire
- Several Insiders Invested In Ready Capital Flagging Positive News [Yahoo! Finance]Yahoo! Finance
RC
Earnings
- 5/8/24 - Beat
RC
Sec Filings
- 6/14/24 - Form ARS
- 6/14/24 - Form DEFA14A
- 6/14/24 - Form DEF
- RC's page on the SEC website