2023-08-07 16:42:04 ET
- Ready Capital press release ( NYSE: RC ): Q2 Non-GAAP EPS of $0.36 misses by $0.01 .
- Revenue of $364.53M (+194.9% Y/Y).
- Shares +1.42% .
- Completed merger with Broadmark Realty Capital Inc., a specialty real estate finance company specializing in originating and servicing residential and commercial construction loans, to create the 4th largest commercial mortgage REIT
- Total investments of $1.1 billion, including $512 million of SBC originations, $424 million of residential mortgage loans, and $121 million of U.S. Small Business Administration 7(a) loans
- Completed a $649 million securitization of floating rate SBC loans and sold $509 million of senior bonds at a weighted average cost of SOFR + 2.94%
- Initiated a new stock repurchase program, authorizing the repurchase of $100 million of the Company’s common stock; acquired approximately 1.7 million shares of the Company’s common stock at an average price of $10.82
- Declared and paid dividends aggregating to $0.40 per share in cash
- Net book value of $14.52 per share of common stock as of June 30, 2023
For further details see:
Ready Capital Non-GAAP EPS of $0.36 misses by $0.01, revenue of $364.53M