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Ready Capital Corp (NYSE:RC) Chief Operating Officer Gary Taylor recently acquired 10,000 shares of the company’s common stock. The transaction, which took place on March 10, 2025, saw Taylor purchasing the shares at a price of $5.23 each, amounting to a total value of $52,300. The purchase comes as InvestingPro data shows the stock trading near its 52-week low of $4.74, with technical indicators suggesting oversold conditions. Following this acquisition, Taylor’s direct ownership in the company increased to 211,097 shares. This move comes as part of Taylor’s ongoing engagement with the company, reflecting his continued investment in Ready Capital Corp, which currently offers a notable 9.75% dividend yield. InvestingPro analysis reveals 12 additional key insights about Ready Capital’s market position and future prospects, available to subscribers.
In other recent news, Ready Capital Corp announced its fourth-quarter 2024 earnings, revealing a significant shortfall as the company reported a GAAP loss of $1.90 per share, contrary to expectations of a profit. Revenue from core operations decreased by 12% to $91.6 million, and the company also missed its revenue forecast, reporting $77.06 million against an expected $95.6 million. In response to these financial challenges, Ready Capital reduced its dividend to $0.125 per share. Additionally, Keefe, Bruyette & Woods adjusted its price target for Ready Capital to $4.00 from $6.25, maintaining an ’Underperform’ rating due to anticipated credit and real estate costs, and a decrease in new loan originations. Citizens JMP also downgraded Ready Capital’s stock rating from ’Market Outperform’ to ’Market Perform’, reflecting a more cautious stance. The company faces the challenge of significant debt maturities in 2026, amounting to $760.9 million. Meanwhile, Ready Capital has issued $220 million in secured notes with a high interest rate of 9.375%, which analysts predict will further impact earnings.
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