RC
Ready Capital
About: Ready Capital Corp is a real estate finance company. It acquires, manages, originates, and finances small-balance commercial loans to purchase small multi-family, office, retail, mixed-use, or warehouse properties. The company's segments consist of LMM Commercial Real Estate and Small Business Lending. It generates the majority of its revenue from LMM Commercial Real Estate.
Employees: 374
0
Funds holding %
of 6,815 funds
0
Analysts bullish %
of 4 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
25% more call options, than puts
Call options by funds: $5.72M | Put options by funds: $4.58M
25% more funds holding in top 10
Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]
15% more first-time investments, than exits
New positions opened: 30 | Existing positions closed: 26
2.46% more ownership
Funds ownership: 56.53% [Q2] → 58.99% (+2.46%) [Q3]
1% more funds holding
Funds holding: 270 [Q2] → 272 (+2) [Q3]
3% less capital invested
Capital invested by funds: $779M [Q2] → $757M (-$21.6M) [Q3]
6% less repeat investments, than reductions
Existing positions increased: 87 | Existing positions reduced: 93
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$6.25
6%
downside
Avg. target
$8.31
26%
upside
High target
$10
51%
upside
4 analyst ratings
1 positive
25%
2 neutral
50%
1 negative
25%
Keefe, Bruyette & Woods Jade Rahmani 41% 1-year accuracy 14 / 34 met price target | 6%downside $6.25 | Underperform Maintained | 14 Jan 2025 |
B. Riley Securities Matt Howlett 25% 1-year accuracy 5 / 20 met price target | 51%upside $10 | Neutral Downgraded | 7 Jan 2025 |
JMP Securities Chris Muller 20% 1-year accuracy 1 / 5 met price target | 44%upside $9.50 | Market Outperform Maintained | 12 Dec 2024 |
UBS Douglas Harter 68% 1-year accuracy 19 / 28 met price target | 13%upside $7.50 | Neutral Maintained | 15 Nov 2024 |
Financial journalist opinion
Negative
Seeking Alpha
2 weeks ago
RCD: A 9.00% Senior Note IPO From Ready Capital Corporation
Ready Capital Corporation's new senior notes trading under ticker RCD offer a 9.00% annual interest rate but face significant financial challenges, including inconsistent dividends and a high debt-to-equity ratio. The company's recent dividend cut and negative earnings-to-debt payments ratio raise concerns about its ability to cover debt obligations. Compared to other Ready Capital senior notes, RCD is fairly priced but not the best option due to its longer duration and associated risks.
Positive
Seeking Alpha
1 month ago
Undercovered Dozen: Ubiquiti, Ready Capital, Cardiff Oncology, Vodafone +
The 'Undercovered' Dozen series highlights lesser-covered stocks, offering fresh investment ideas and sparking community discussions on their potential. Ubiquiti Inc. shows promise with operational improvements, Ready Capital Corporation faces liquidity risks, and TORM plc is crucial despite energy sector volatility. Esperion Therapeutics' breakout and Cardiff Oncology's promising trial data present compelling buy opportunities, while Advantest Corporation's high valuation suggests caution.
Neutral
GlobeNewsWire
1 month ago
Ready Capital Corporation Declares Fourth Quarter 2024 Dividends
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2024. This dividend is payable on January 31, 2025, to shareholders of record as of the close of business on December 31, 2024.
Neutral
Seeking Alpha
1 month ago
Huge Yields, Brief Notes
Preferred shares rallied, as predicted. Finding value is getting much harder. There are some common shares trading at discounts. Some big, some tiny. I would be interested in a few of the agency mortgage REITs, but the ones I would prefer remain unavailable. The valuation between those good ones and some of the weaker ones (as measured by things like destruction of shareholder wealth and me not liking them) is still small sometimes.
Neutral
PRNewsWire
1 month ago
NexPoint Comments on Cancellation of United Development Funding IV (UDF IV) 2024 Annual Meeting
UDF IV's Plan "Not to Reconvene the Annual Meeting" is Unacceptable Outcome for Shareholders NexPoint Urges UDF IV to Reconvene Meeting Following Full Disclosure of Ready Capital Transaction Details and to Disclose Amount of Shareholder Funds Used on Advisors for an Annual Meeting it has Failed to Hold DALLAS , Dec. 12, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today issued a statement regarding the "adjournment" of the United Development Funding IV ("UDF IV" or the "Company") Annual Meeting of Shareholders ("Annual Meeting") due to a lack of quorum and the Company's statement that it will not reconvene the Meeting. NexPoint provided the following comment: "We are deeply alarmed by UDF IV's announcement that it will not reconvene the Annual Meeting after failing to meet the quorum threshold.
Neutral
GlobeNewsWire
1 month ago
Ready Capital Corporation Announces Closing of Public Offering of Senior Notes Due 2029 and Partial Exercise of Over-allotment Option
NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it closed an underwritten public offering of $130 million aggregate principal amount of 9.00% Senior Notes due 2029 (the “Notes”), including $15 million aggregate principal amount relating to the partial exercise of the underwriters' over-allotment option. The Notes were issued in minimum denominations and integral multiples of $25.00. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC served as book-running managers for the offering.
Neutral
PRNewsWire
1 month ago
NexPoint Comments on United Development Funding IV (UDF IV) Annual Meeting
Declines to Appear at Annual Meeting, Calls for Adjournment of Meeting Until UDF IV Provides Proper Disclosure on Recently Announced Merger with Ready Capital DALLAS , Dec. 10, 2024 /PRNewswire/ -- NexPoint Real Estate Opportunities, LLC (together with its affiliates "NexPoint") today announced it will not appear nor vote any proxies at the United Development Funding IV ("UDF IV" or the "Company") Annual Meeting of Shareholders ("Annual Meeting") being held today, December 10, 2024. NexPoint remains concerned about the Company's planned acquisition by Ready Capital (NYSE:RC), which UDF IV announced last week in an apparent attempt to influence today's vote at the Annual Meeting.
Neutral
Seeking Alpha
1 month ago
Ready Capital: 9% Senior Notes Might Be Worth Pursuing
Ready Capital's Q3 2024 showed another decrease in book value. Q3 2024 actually had negative distributable earnings. The company made an acquisition and offered to place debt at a 9% yield.
Neutral
GlobeNewsWire
1 month ago
Ready Capital Corporation Announces Pricing of Public Offering of Senior Notes Due 2029
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC ) ("Ready Capital" or the "Company") today announced that it priced an underwritten public offering of $115.0 million aggregate principal amount of 9.00% Senior Notes due 2029 (the "Notes"). The Notes will be issued in minimum denominations and integral multiples of $25.00. The Company has granted to the underwriters a 30-day over-allotment option to purchase up to an additional $17.25 million aggregate principal amount of the Notes at the public offering price, less the underwriting discount. The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC served as book-running managers for the offering.
Neutral
GlobeNewsWire
1 month ago
Ready Capital Corporation Announces Public Offering of Senior Notes Due 2029
NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it is commencing an underwritten public offering of senior unsecured notes due 2029 (the “Notes”). The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. The maturity, interest rate and other terms of the Notes will be determined at the time of pricing the offering. Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC are serving as book-running managers for the offering.
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