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Jun 30, 2022
Ready Capital Q2 2022 Earnings Report
Ready Capital reported second quarter 2022 results, with GAAP earnings per common share of $0.47 and distributable earnings per common share of $0.48.
Key Takeaways
Ready Capital Corporation reported financial results for the quarter ended June 30, 2022. The company's results reflect its ability to deploy capital across economic cycles, with growth in the loan portfolio and continued access to capital markets.
Total investments of $2.1 billion, including $1.2 billion of SBC originations and acquisitions, $746.4 million of residential mortgage loans, and $128.8 million of U.S. Small Business Administration 7(a) loans
Total year-to-date investment activity of $5.2 billion, 17% year-over-year growth
Closed a $754.2 million commercial mortgage CLO, consisting of 25 first-lien floating rate loans
Declared and paid dividend of $0.42 per share in cash with distributable earnings coverage of the common dividend at 1.14x
Forward Guidance
Management will host a webcast and conference call on Friday, August 5, 2022, at 8:30 am ET to provide a general business update and discuss the financial results for the quarter ended June 30, 2022.
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