Ready Capital Corporation (RC)

Ready Capital's stock price has significantly declined, dropping from $6.60 per share on January 13, 2025, to $2.16 per share as of January 9, 2026, a 67.27% decrease. The company reported a Q3 2025 loss, missing analysts' consensus estimates for both EPS and revenue, with an EPS of ($0.94) versus the $0.02 estimate and revenue of $85.43 million versus the $149.14 million estimate. Several financial institutions have lowered their price targets for RC. Ready Capital Corporation declared fourth-quarter 2025 dividends, with an annualized dividend payout of $0.50 per share as of November 2025. The company is strategically repositioning its CRE portfolio, de-risking its balance sheet, and liquidating non-core assets, creating short-term revenue pressure but aiming to stabilize long-term earnings, including the sale of its Residential Mortgage Banking segment in Q2 2025. In Q2 2025, Ready Capital issued an additional $50 million in senior secured notes due 2028 and is managing $650 million in debt maturities in 2026.

Ready Capital's commercial real estate (CRE) lending is influenced by the broader CRE cycle and interest rate environment, with strategic decisions playing a more significant role than inherent seasonal patterns. The Small Business Lending platform is noted as a strong, non-cyclical source of fee income, implying less seasonality in demand. Revenue in 2025 showed volatility due to strategic asset liquidation and a challenging interest rate environment, indicating that external economic factors and internal strategic adjustments are key drivers rather than predictable seasonal fluctuations.

Ready Capital Corporation (RC) is a publicly traded real estate finance company operating in the United States, functioning as a mortgage REIT and externally managed by Waterfall Asset Management LLC. The company focuses on originating, acquiring, financing, and servicing a diverse portfolio of real estate-related loans and investments through its LMM Commercial Real Estate and Small Business Lending segments. Its products include LMM commercial real estate loans, SBA 7(a) loans, USDA loans, residential mortgage loans, and mortgage-backed securities, aiming to provide flexible financing solutions to commercial real estate investors, developers, and business owners.

Ready Capital Corporation has a national client base and a U.S. national presence as a real estate finance company, with its corporate office located in New York, New York.

Ready Capital has maintained a positive reputation, recognized as a 2024 Top 5 Freddie Mac Small Balance Loan (SBL) lender and a nationwide Freddie Mac SBL Optigo® lender. Its Small Business Lending segment is highly regarded as a non-bank, SBA Preferred Lender, ranking in the top 1% of all 7(a) lenders nationwide. The significant decline in stock price and analyst downgrades could indirectly influence investor and market perception.

Ready Capital Corporation's ownership is a mix of institutional, retail, and individual investors, with approximately 46.80% held by Institutional Investors, 1.33% by Insiders, and 51.87% by Public Companies and Individual Investors. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., State Street Corp, Invesco Ltd., Waterfall Asset Management, LLC, Geode Capital Management, Llc, Charles Schwab Investment Management Inc., and iShares. Insider buying activity has been observed, with RC insiders buying more shares than they have sold in the past three months.