I Was Hoping To Give REIT Ready Capital Corp. A Buy Rating, But I Can't [Seeking Alpha]
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Source: Seeking Alpha
This mREIT currently yields 13.4% and sells at 37% discount to book value. They have initiated a $100 million share repurchase program and already repurchased 1.7 million shares at an average price of $10.82 per share. Investors in mREIT Ready Capital Corp. ( NYSE: RC ) had a difficult 2023 and their 4Q earnings release did not show any real signs of improvement. Their 2023 merger with Broadmark Realty Capital has been very troubling and has had a very negative impact on RC stock price. Loan losses continue to increase and a significant portion of their loan portfolio has payments 60+ days past due. Despite these negatives many investors are attracted by the 13.4% dividend yield. Shareholder Equity Growth Results in Higher Fees Ready Capital has had explosive growth over the last few years mostly via mergers/acquisitions. That rapid growth of total assets and shareholder equity, however, has not translated into a rapid RC price increase - just the opposite. RC price has under
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RC
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