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Mar 31, 2024
Ready Capital Q1 2024 Earnings Report
Ready Capital reported a GAAP loss per share of $(0.45) and distributable earnings per share of $0.29 for Q1 2024.
Key Takeaways
Ready Capital Corporation reported financial results for the quarter ended March 31, 2024. The company faced challenges in the commercial real estate market, reflected in a valuation allowance. However, the Small Business Lending segment reached all-time highs.
Total investments reached $457 million, including $260 million in LMM originations.
Record $197 million in U.S. Small Business Administration 7(a) loans were originated.
A dividend of $0.30 per share in cash was declared and paid.
Net book value was $13.44 per share of common stock as of March 31, 2024.