Ready Capital Q3 2022 Earnings Report
Key Takeaways
Ready Capital Corporation reported financial results for the quarter ended September 30, 2022. The company had GAAP earnings per common share of $0.53 and distributable earnings per common share of $0.46. Total investments were $1.5 billion, including $831.1 million of SBC originations and acquisitions.
Total investments of $1.5 billion, including $831.1 million of SBC originations and acquisitions, $534.3 million of residential mortgage loans, and $133.6 million of U.S. Small Business Administration 7(a) loans
Total year-to-date investment activity of $6.7 billion
Increased the size of the Company's existing stock repurchase program by an additional $25 million, bringing the total amount authorized under the program to $50 million
Declared and paid dividend of $0.42 per share in cash with distributable earnings coverage of the common dividend at 1.1x