Security
RC PRC · Ready Capital Corp
RC PRCNYSEPreferred stockCurrentCIK 1527590Updated Sep 27, 2026
Name history
Sutherland Asset Management Corp · through Sep 4, 2018ZAIS Financial Corp. · through Nov 4, 2016
RC PRC price & chart
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About the company
Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, New York, the Company employs approximately 350 professionals nationwide.
In the news
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Recent filings
Material Modification to Rights of Security Holders
Items 3.03, 9.01
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Other Events
Items 2.03, 8.01, 9.01
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Submission of Matters to a Vote of Security Holders
Items 5.07
Show 5 more recent filings
Financials
FY 2025 · USDSource
Source
Source
balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 7,769,796,000Source | 10,141,921,000Source | 12,441,217,000Source | 11,620,977,000Source |
| GoodwillUSD | 49,501,000Source | 49,501,000Source | 38,530,000Source | 37,818,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 38,172,000Source | 37,006,000Source | 17,749,000Source | 16,308,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 207,841,000Source | 143,803,000Source | 138,532,000Source | 163,041,000Source |
| Operating Lease, Right-of-Use AssetUSD | 3,368,000Source | 7,362,000Source | 2,539,000Source | 1,687,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 6,118,168,000Source | 8,197,818,000Source | 9,794,455,000Source | 9,722,382,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 111,378,000Source | 111,378,000Source | 111,378,000Source | 111,378,000Source |
| Common Stock, Value, IssuedUSD | 17,000Source | 17,000Source | 17,000Source | 11,000Source |
| Additional Paid in CapitalUSD | 2,264,355,000Source | 2,250,291,000Source | 2,321,989,000Source | 1,684,074,000Source |
| Retained Earnings (Accumulated Deficit)USD | -807,522,000Source | -505,089,000Source | 124,413,000Source | 4,994,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -24,196,000Source | -18,552,000Source | -17,860,000Source | -9,369,000Source |
| Stockholders' Equity Attributable to ParentUSD | 1,544,032,000Source | 1,838,045,000Source | 2,539,937,000Source | 1,791,088,000Source |
| Liabilities and EquityUSD | 7,769,796,000Source | 10,141,921,000Source | 12,441,217,000Source | 11,620,977,000Source |
| Deferred Income Tax Liabilities, NetUSD | — | 0Source | 32,977,000Source | 30,885,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 99,235,000Source | 97,697,000Source | 98,464,000Source | 99,146,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | — | — | 32,977,000Source | 29,908,000Source |
| Dividends PayableUSD | 3,633,000Source | 43,168,000Source | 54,289,000Source | 47,177,000Source |
| Long-term DebtUSD | 1,375,216,000Source | 1,333,112,000Source | 1,110,035,000Source | 1,120,417,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -221,061,000Source | -430,398,000Source | 348,411,000Source | 203,163,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 2,812,000Source | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 5,807,000Source | 8,119,000Source | 7,550,000Source | 7,495,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 2,973,000Source | -1,948,000Source | 21,313,000Source | -14,198,000Source |
| Deferred Income Tax Expense (Benefit)USD | -87,082,000Source | -104,535,000Source | 5,355,000Source | 21,267,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 432,117,000Source | 274,815,000Source | 51,130,000Source | 359,148,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | 44,366,000Source | -38,710,000Source | -123,566,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 1,642,539,000Source | 1,535,017,000Source | 1,019,444,000Source | -1,556,428,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 2,106,000Source | 1,238,000Source | 3,948,000Source | 5,817,000Source |
| Payments for Repurchase of Common StockUSD | 67,596,000Source | 82,250,000Source | 18,108,000Source | 36,969,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -2,037,688,000Source | -1,879,780,000Source | -1,085,087,000Source | 1,170,979,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 113,317,000Source | 206,057,000Source | 215,089,000Source | 187,832,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 66,760,000Source | -79,732,000Source | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 249,534,000Source | 182,774,000Source | 262,506,000Source | 297,027,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 489,249,000Source | 659,264,000Source | 661,169,000Source | 355,230,000Source |
| Income Taxes Paid, NetUSD | -34,000Source | -11,928,000Source | 2,008,000Source | 29,164,000Source |
| Additional Financial Items | ||||
| Amortization of Debt Issuance Costs and DiscountsUSD | 45,611,000Source | 52,541,000Source | 66,526,000Source | 2,746,000Source |
| Amortization of Intangible AssetsUSD | 6,700,000Source | 4,600,000Source | 1,600,000Source | 1,600,000Source |
| AssetAcquisitionContingentConsiderationLiabilityUSD | 15,242,000Source | 573,000Source | — | 25,000,000Source |
| Derivative, Gain (Loss) on Derivative, NetUSD | 7,477,000Source | 19,794,000Source | 20,847,000Source | 13,249,000Source |
| Dividends PayableUSD | 3,633,000Source | 43,168,000Source | 54,289,000Source | 47,177,000Source |
| Financing Interest ExpenseUSD | 47,287,000Source | 68,061,000Source | 44,263,000Source | 14,644,000Source |
| Gain (Loss) on Sale of Mortgage LoansUSD | — | — | — | -15,420,000Source |
| GoodwillUSD | 49,501,000Source | 49,501,000Source | 38,530,000Source | 37,818,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -215,853,000Source | -411,999,000Source | 351,245,000Source | 203,163,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -5,208,000Source | -18,399,000Source | -2,834,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | -2,834,000Source | — |
| Income (Loss) from Equity Method InvestmentsUSD | 4,562,000Source | 10,886,000Source | -905,000Source | 11,661,000Source |
| Income (Loss) from Equity Method Investments, Net of Dividends or DistributionsUSD | 2,271,000Source | 7,702,000Source | -2,933,000Source | 9,328,000Source |
| Income Tax Expense (Benefit)USD | -86,703,000Source | -104,512,000Source | 7,174,000Source | 29,733,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 7,854,000Source | 5,357,000Source | 8,960,000Source | 8,900,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -236,911,000Source | -443,751,000Source | 331,454,000Source | 186,267,000Source |
| Other Depreciation and AmortizationUSD | 9,742,000Source | — | — | — |
| Payments of Financing CostsUSD | 29,827,000Source | 12,178,000Source | 32,210,000Source | 43,826,000Source |
| Proceeds from Issuance of Common StockUSD | 0Source | 0Source | 108,000Source | 123,490,000Source |
| Proceeds from (Payments to) Noncontrolling InterestsUSD | 0Source | -18,000Source | -6,000Source | -14,317,000Source |
| Financing Receivable, Credit Loss, Expense (Reversal)USD | 87,038,000Source | 292,759,000Source | 7,230,000Source | 34,442,000Source |
| Realized Investment Gains (Losses)USD | -142,112,000Source | -54,000,000Source | 65,008,000Source | 53,764,000Source |
| Unrealized Gain (Loss) on DerivativesUSD | — | — | — | -1,765,000Source |
| Unrealized Gain (Loss) on InvestmentsUSD | -13,153,000Source | -14,991,000Source | 9,718,000Source | 67,952,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -302,556,000Source | -516,511,000Source | 358,419,000Source | 232,896,000Source |
| Income Tax Expense (Benefit)USD | -86,703,000Source | -104,512,000Source | 7,174,000Source | 29,733,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 7,854,000Source | 5,357,000Source | 8,960,000Source | 8,900,000Source |
| Earnings Per Share, BasicUSD per share | -1.44Source | -2.63Source | 2.25Source | 1.73Source |
| Earnings Per Share, DilutedUSD per share | -1.44Source | -2.63Source | 2.22Source | 1.66Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 164,544,350Source | 169,107,477Source | 146,841,594Source | 106,878,139Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 167,259,712Source | 170,472,273Source | 148,567,026Source | 117,193,958Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 6,700,000Source | 4,600,000Source | 1,600,000Source | 1,600,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 0.39Source | 1.1Source | 1.46Source | 1.66Source |
| Current Income Tax Expense (Benefit)USD | 379,000Source | 23,000Source | 1,819,000Source | 8,466,000Source |
| Financing Interest ExpenseUSD | 47,287,000Source | 68,061,000Source | 44,263,000Source | 14,644,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -215,853,000Source | -411,999,000Source | 351,245,000Source | 203,163,000Source |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | -1.41Source | -2.52Source | 2.27Source | 1.73Source |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | -1.41Source | -2.52Source | 2.24Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -5,208,000Source | -18,399,000Source | -2,834,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | -2,834,000Source | — |
| Income (Loss) from Equity Method InvestmentsUSD | 4,562,000Source | 10,886,000Source | -905,000Source | 11,661,000Source |
| Interest ExpenseUSD | — | — | 716,468,000Source | 400,774,000Source |
| InterestExpenseOperatingUSD | 514,125,000Source | 696,455,000Source | — | — |
| Interest Income (Expense), NetUSD | 55,041,000Source | 200,520,000Source | 229,346,000Source | 270,396,000Source |
| Labor and Related ExpenseUSD | — | — | — | 99,226,000Source |
| Management Fee ExpenseUSD | — | — | — | 19,295,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -236,911,000Source | -443,751,000Source | 331,454,000Source | 186,267,000Source |
| Net Income (Loss) from Continuing Operations Available to Common Shareholders, BasicUSD | -232,374,000Source | -426,481,000Source | — | — |
| Other Cost and Expense, OperatingUSD | 90,956,000Source | 63,572,000Source | 59,591,000Source | 55,302,000Source |
| Other ExpensesUSD | 19,826,000Source | 18,485,000Source | 18,828,000Source | 18,014,000Source |
| Other Operating IncomeUSD | 13,830,000Source | 28,555,000Source | 25,410,000Source | 18,697,000Source |
| Preferred Stock Dividends, Income Statement ImpactUSD | 7,996,000Source | 7,996,000Source | 7,997,000Source | 7,996,000Source |
| Realized Investment Gains (Losses)USD | -142,112,000Source | -54,000,000Source | 65,008,000Source | 53,764,000Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | 8,667,000Source | 9,125,000Source | 9,284,000Source | 9,561,000Source |
Offerings
Registration 333-284038
Filing attachments
tm258892d1_ex99-1.htm · 8-K · 2025-03-13
EX-99.1 3 tm258892d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Ready Capital Corporation Announces Completion of Merger NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) - Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it has completed the previously announced acquisition of United Development Funding IV (“UDF IV”) (the “Merger”) pursuant to the terms of the Agreement and Plan of Merger, dated as of November 29, 2024, by and among Ready Capital, RC Merger S…
Read attachment ↗tm257458d1_ex99-1.htm · 8-K · 2025-02-24
EX-99.1 2 tm257458d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Ready Capital Corporation Announces Closing of $220.0 Million of Senior Secured Notes 02/24/2025 NEW YORK, Feb. 24, 2025 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that on February 21, 2025, ReadyCap Holdings, LLC (“ReadyCap”), an indirect subsidiary of the Company closed a private placement of $220.0 million in aggregate principal amount of its 9.375% Senior Secured Note…
Read attachment ↗tm253577d1_ex99-1.htm · 8-K · 2025-01-16
EX-99.1 2 tm253577d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 READY CAPITAL CORPORATION ANNOUNCES NEW SHARE REPURCHASE PROGRAM New York, NY, January 16, 2025 - Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor- and owner-occupied commercial real estate loans, today announced that its Board of Directors approved a stock repurchase program authoriz…
Read attachment ↗tm2431241d5_ex99-1.htm · S-4/A · 2025-01-06
EX-99.1 6 tm2431241d5_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 CONSENT OF MOELIS & COMPANY LLC January 6, 2025 Special Committee of the Board of Trustees United Development Funding IV 2201 W Royal Lane, Suite 240 Irving, Texas 75063 Members of the Special Committee of the Board of Trustees: We hereby consent to the inclusion of our opinion letter, dated November 30, 2024, to the Special Committee of the Board of Trustees of United Development Funding IV (the “Trust”) as Annex B to, and t…
Read attachment ↗tm2431241d5_ex99-2.htm · S-4/A · 2025-01-06
EX-99.2 7 tm2431241d5_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 United Development Funding IV SPECIAL MEETING OF SHAREHOLDERS THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES The undersigned shareholder(s) of United Development Funding IV hereby appoint(s) James Kenney and Stacey Dwyer and each of them, as proxies, each with the power to act without the other and with the power to appoint his/her substitute, to attend the Special Meeting of Shareholders to be held on March 4, 2025 …
Read attachment ↗