Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD)

US — Real Estate Sector

Peers:

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Key Metrics & Ratings

symbol RCD
Rev/Share 1.3582
Book/Share 11.5292
PB 0.3539
Debt/Equity 0.3946
CurrentRatio 0.226
ROIC -0.2372

MktCap 633480585.0
FreeCF/Share 1.8501
PFCF 2.0412
PE -2.1297
Debt/Assets 0.0774
DivYield 0.1946
ROE -0.1549

Rating C-
Score 1
Recommendation Strong Sell
P/E Score 1
DCF Score 1
P/B Score 4
D/E Score 1

Recent Analyst Ratings

Type	Ticker	Analyst Firm	Previous Rating	Current Rating	Previous Price Target	Current Price Target	Date
No ratings available.

News

Ready Capital: Distress And Opportunity, Why I Bought The Series E Preferreds

RC, RCD
Published: May 26, 2025 by: Seeking Alpha
Sentiment: Positive

I've been accumulating RC's 6.50% Series E Preferreds, amid a significant year-to-date selloff. They're trading for 62 cents on the dollar and offer a 10.5% dividend yield. RC common shares are down 40% year-to-date, while the E preferreds have dipped 16%. I think the selloff is overdone and the preferreds provide a compelling risk-to-reward profile at their current level.

image for news Ready Capital: Distress And Opportunity, Why I Bought The Series E Preferreds

RCD: A Baby Bond To Sell, Not To Buy

RCD
Published: March 11, 2025 by: Seeking Alpha
Sentiment: Negative

Ready Capital Corporation's 9.00% Senior Notes due 2029 carry high risk due to poor management and significant equity value destruction over the past decade. Despite the attractive 9% coupon, RCD's high duration and default risk make it an unfavorable investment compared to more stable alternatives. The company's common equity has plunged over 20% year-to-date, and a class action suit further questions management's competence and solvency.

image for news RCD: A Baby Bond To Sell, Not To Buy

About Ready Capital Corporation 9.00% Senior Notes due 2029 (RCD)

IPO Date 2024-12-19
Website https://www.readycapital.com
Industry REIT - Mortgage
CEO Thomas Edward Capasse
Employees 475

Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through three segments: SBC Lending and Acquisitions; Small Business Lending; and Residential Mortgage Banking. The SBC Lending and Acquisitions segment, through its subsidiary, ReadyCap Commercial, LLC, originate SBC loans secured by stabilized or transitional investor properties using various loan origination channels. The Small Business Lending segment, through its subsidiary, ReadyCap Lending, LLC, acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program. The Residential Mortgage Banking segment, through its subsidiary, GMFS, LLC, originates residential mortgage loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.