Ready Capital Corporation is a U.S.-based entity primarily engaged in the real estate finance sector. Its business activities encompass the procurement, generation, ...
Ready Capital Corporation (NYSE: RC) is a diversified real estate finance company headquartered in New York City, operating as a real estate investment trust (REIT). Founded in 2011 (originally as Sutherland Asset Management Corporation, renamed in 2018), the company focuses on small to medium-sized commercial real estate (CRE) lending and small business lending. It operates through three main segments: SBC Lending and Acquisitions (via subsidiary ReadyCap Commercial), Small Business Lending (via ReadyCap Lending, LLC, specializing in SBA 7(a) loans), and Residential Mortgage Banking (via GMFS, LLC). The company's business model involves the origination, acquisition, servicing, and financing of loans, as well as investments in mortgage-backed securities. Ready Capital has originated over $35 billion in loans since inception, demonstrating its significant market presence. As a REIT, it distributes at least 90% of taxable income to shareholders, maintaining a dividend policy. As of the latest data, the company employs approximately 595 people (within the 501-1000 range) and is led by CEO and CIO Thomas Edward Capasse, who is also a co-founder of its external manager, Waterfall Asset Management. The company has a market cap of around $282 million, with a stock price near $1.71, and has faced recent financial challenges including negative net income and profitability ratios, yet it continues to generate operating cash flow. Key financial metrics indicate a debt-to-equity ratio of 0.58, and a dividend yield of about 9.1%. The company's mission is to provide flexible financing solutions to small businesses and commercial real estate owners, leveraging local market expertise and a nationwide platform. With a strong focus on underserved markets, Ready Capital aims to support economic growth while delivering value to shareholders.
