Overview
Ready Capital Q3 GAAP loss per share at $0.13, with a distributable loss of $0.94
Company completed sales of 217 loans, netting $109 mln in proceeds
Ready Capital repurchased 2.5 mln shares at $4.17 each
Outlook
Company focuses on restoring financial health through strategic exits and risk management
Result Drivers
LOAN ORIGINATIONS - Co originated $139 mln in LMM commercial real estate and $283 mln in small business lending, including SBA and USDA loans
PORTFOLIO SALES - Co completed sales of 217 loans with unpaid principal balance of $758 mln, netting $109 mln in proceeds
STOCK REPURCHASE - Co acquired 2.5 mln shares at an average price of $4.17 per share as part of stock repurchase program
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | -$0.13 | ||
Q3 Net Income | -$16.74 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for Ready Capital Corp is $4.00, about 24% above its November 5 closing price of $3.04
Press Release: ID:nGNX1shs3q
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)