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Sep 30, 2021
Ready Capital Q3 2021 Earnings Report
Ready Capital reported third quarter results with GAAP earnings per share of $0.61 and distributable earnings per share of $0.64.
Key Takeaways
Ready Capital Corporation reported strong third quarter results, driven by increased scale, expanded capabilities and an attractive economic climate. The company declared a dividend of $0.42 per share in cash with Distributable Earnings coverage of the dividend at 1.5x. Total investments were $2.3 billion, including $1.2 billion in SBC originations and acquisitions, $1.0 billion of residential mortgage loans, and $138.3 million of U.S. Small Business Administration 7(a) loans.
Declared and paid dividend of $0.42 per share in cash with Distributable Earnings coverage of the dividend at 1.5x
Total investments of $2.3 billion, including $1.2 billion in SBC originations and acquisitions, $1.0 billion of residential mortgage loans, and $138.3 million of U.S. Small Business Administration 7(a) loans
Adjusted net book value of $15.06 per share of common stock as of September 30, 2021, 1.5% year-over-year growth
Completed the Company’s sixth CRE CLO with $652.5 million of transitional loans securitized at an 83% advance rate and weighted average cost of 1.3%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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