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GlobeNewswire·

Ready Capital Corporation Reports Third Quarter 2026 Results

RC
  • Ready Capital Corporation reported a GAAP loss of $0.40 per share & a distributable loss of $0.53 per share for the quarter ended September 30, 2026.
  • The Company retired all 2026 corporate maturities following the repayment of November notes & issued $225.0 million in 10.00% Senior Secured Notes due 2031.
  • Total loan originations reached $303.4 million, comprising $132.9 million in lower-to-middle-market commercial real estate loans & $109.3 million in SBA 7(a) loans.
  • Book value stood at $6.44 per share, with $157 million in cash, $606 million in unencumbered assets, & total leverage of 2.8x.
  • The Portland Ritz project achieved 39% completion on 52 condominium units, with hotel occupancy rising 18% year-over-year to 58% & Room RevPar increasing 35% to $271.
  • Distributable earnings before realized losses improved to a loss of $0.21 per share, excluding $0.53 per share in realized losses on investment sales.
  • Management identified bringing distributable earnings & free cash flow to breakeven & resolving the legacy non-performing commercial loan portfolio as immediate priorities.
  • A webcast & conference call regarding these results was scheduled for November 6, 2026, at 8:30 a.m. ET.
Company
Ready Capital Corporation
Keywords
NYSE:RC, Ready Capital Corporation