Ready Capital Corporation RC
Ready Capital Corporation is a U.S.-based entity primarily engaged in the real estate finance sector. Its business activities encompass the procurement, generation, administration, servicing, and funding of various loan types, including commercial loans of small to moderate value (SBC loans), those guaranteed by the Small Business Administration (SBA loans), and residential mortgages. Additionally, it deals in mortgage-backed securities, predominantly supported by SBC loans or other property-linked financial instruments. The organization conducts its operations through three distinct divisions: SBC Lending and Acquisitions: This division, leveraging its subsidiary ReadyCap Commercial, LLC, creates SBC loans. These loans are typically collateralized by investor properties, whether stable or undergoing transition, and are sourced via multiple origination avenues. Small Business Lending: Operating through ReadyCap Lending, LLC, this segment focuses on the acquisition, generation, and servicing of owner-occupied loans. These are secured by guarantees from the SBA, specifically under its Section 7(a) Program. Residential Mortgage Banking: Via its subsidiary GMFS, LLC, this division is responsible for initiating residential mortgage loans. For federal income tax considerations, the company holds the designation of a real estate investment trust (REIT). Consequently, it typically avoids federal corporate income taxation, provided it disburses a minimum of 90% of its taxable earnings to its shareholders. Historically, the firm operated as Sutherland Asset Management Corporation before adopting the name Ready Capital Corporation in September 2018. Established in 2007, its main office is situated in New York City, New York.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-02 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Distributable EPS / leverage are from the Q1 2026 earnings release (filed 2026-05-07) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
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Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $499.47M | $-228.91M | $2.81M | $214.38M | $-203.48M |
| 2024 | $27.35M | $-435.75M | $19.77M | $199.72M | $-51.22M |
| 2023 | $389.94M | $339.45M | $20.23M | $1.10B | $33.07M |
| 2022 | $383.33M | $194.26M | $25.07M | $600.87M | $359.15M |
| 2021 | $296.34M | $157.74M | $16.01M | $361.73M | $-34.44M |
| 2020 | $384.65M | $44.87M | $0.00 | $0.00 | $68.89M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-31 | 2026-06-15 | $0.01 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-30 | 2026-03-13 | $0.01 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-30 | 2025-12-15 | $0.01 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-31 | 2025-09-15 | $0.12 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-31 | 2025-06-13 | $0.12 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-30 | 2025-03-03 | $0.12 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-31 | 2024-12-13 | $0.25 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-31 | 2024-09-13 | $0.25 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-31 | 2024-06-14 | $0.30 | Quarterly |
| 2024-03-27 | 2024-03-28 | 2024-04-30 | 2024-03-15 | $0.30 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-31 | 2023-12-14 | $0.30 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-31 | 2023-09-15 | $0.36 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-31 | 2023-05-15 | $0.14 | Monthly |
| 2023-05-26 | 2023-05-30 | 2023-06-15 | 2023-05-15 | $0.26 | Irregular |
| 2023-03-30 | 2023-03-31 | 2023-04-28 | 2023-03-15 | $0.40 | Irregular |
| 2022-12-29 | 2022-12-30 | 2023-01-31 | 2022-12-15 | $0.40 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-31 | 2022-09-15 | $0.42 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-29 | 2022-06-15 | $0.42 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-29 | 2022-03-15 | $0.42 | Quarterly |
| 2021-12-30 | 2021-12-31 | 2022-01-31 | 2021-12-14 | $0.42 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-29 | 2021-09-15 | $0.42 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-30 | 2021-06-14 | $0.42 | Quarterly |
| 2021-04-01 | 2021-04-05 | 2021-04-30 | 2021-03-24 | $0.10 | Special |
| 2021-03-12 | 2021-03-15 | 2021-03-18 | 2021-03-01 | $0.30 | Quarterly |
Coverage (payout of operating cash flow): -3.29%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — RC
Ready Capital Corporation (RC) Shareholder/Analyst Call Prepared Remarks Transcript
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Ready Capital Corporation Declares Second Quarter 2026 Dividends
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Earnings High Fliers And Busts
Ready Capital Q1 Earnings Call Highlights
Ready Capital Corporation (RC) Q1 2026 Earnings Call Transcript
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.