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NEW YORK - Ready Capital Corporation, a real estate investment trust with a market capitalization of $1.17 billion, announced its financial results for the fourth quarter ended December 31, 2024, today. The New York-based company, trading on the New York Stock Exchange under the ticker (NYSE:RC) at $6.93 per share, disclosed the details in a press release, which is now available on its website. According to InvestingPro data, the company’s next earnings release is scheduled for March 3, 2025.
The earnings release, along with supplemental financial information, was furnished to the Securities and Exchange Commission (SEC) on an 8-K form today. These documents provide a comprehensive overview of the company’s financial performance during the last quarter of the previous year.
Ready Capital Corporation, operating within the real estate sector, is incorporated in Maryland and has its principal executive offices located on Avenue of the Americas in New York. The company’s common stock, along with several series of preferred stock and senior notes, are listed and actively traded on the New York Stock Exchange. Notably, the company maintains a significant 14.43% dividend yield and has consistently paid dividends for nine consecutive years.
The information released in the earnings report and the supplemental financial data are not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor are they subject to the liabilities of that section. Furthermore, the contents of these documents will not be incorporated by reference into any registration statement or other document under the Securities Act of 1933 unless explicitly stated.
Investors and stakeholders can access the earnings release and supplemental financial information directly from the Investor Relations section of Ready Capital’s website. These documents provide key insights into the company’s financial health and operational outcomes as of December 31, 2024.
For further details on Ready Capital’s financial performance and to view the full earnings release, stakeholders are encouraged to visit the company’s website or refer to the SEC filing. The company emphasizes that this information is based on a press release statement and should be considered accordingly.
In other recent news, Ready Capital Corporation has successfully completed the sale of $130 million in senior notes due in 2029, generating net proceeds of approximately $125.4 million. The company plans to use these funds for the origination or acquisition of target assets, general corporate purposes, and potentially to reduce borrowings under existing loan agreements. This financial move follows the company’s announcement of the pricing of a public offering of $115 million in senior notes, with an expected closing date in December 2024. The offering includes a 30-day over-allotment option for underwriters to purchase an additional $17.25 million of the notes. Ready Capital aims to list these notes on the New York Stock Exchange under the symbol "RCD," with trading anticipated to start within 30 days of the offering’s closure, pending approval. Several financial institutions, including Morgan Stanley (NYSE:MS) & Co. LLC and Piper Sandler & Co., are acting as book-running managers for the offering. The company has cautioned that forward-looking statements in its press releases involve uncertainties in predicting future results. These developments are based on press release statements from Ready Capital Corporation.
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