Core Viewpoint - Ready Capital Corporation has announced a stock repurchase program authorizing the repurchase of up to $150.0 million of its common stock, which will be executed at management's discretion based on market conditions and other factors [1]. Company Overview - Ready Capital Corporation is a multi-strategy real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market investor- and owner-occupied commercial real estate loans [3]. - The company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge loans, as well as U.S. Small Business Administration loans under its Section 7(a) program [3]. - Headquartered in New York, Ready Capital employs approximately 350 professionals nationwide and is externally managed and advised by Waterfall Asset Management, LLC [3]. Stock Repurchase Program - The Board of Directors has approved a stock repurchase program for up to $150.0 million, allowing repurchases to be made on the open market or through privately negotiated transactions [1]. - Repurchases will comply with Securities and Exchange Commission rules and may be conducted under Rule 10b5-1 and Rule 10b-18 plans, which allow for repurchases during certain periods [1]. - The timing and amount of repurchase transactions will be determined by management based on evaluations of market conditions, share price, and legal requirements [1].

Group 1 - Ready Capital Corporation declared a quarterly cash dividend of $0.25 per share of common stock and Operating Partnership unit for the quarter ended December 31, 2024, payable on January 31, 2025 [1] - The Company also declared a dividend of $0.390625 per share of its 6.25% Series C Cumulative Convertible Preferred Stock, payable on January 15, 2025 [2] - Additionally, a dividend of $0.40625 per share of its 6.50% Series E Cumulative Redeemable Preferred Stock was declared, payable on January 31, 2025 [3] Group 2 - Ready Capital Corporation is a multi-strategy real estate finance company that focuses on originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans [4] - The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, bridge loans, and U.S. Small Business Administration loans under its Section 7(a) program [4] - Headquartered in New York, the Company employs approximately 350 professionals nationwide [4]

Core Viewpoint - NexPoint expresses strong disapproval of UDF IV's decision not to reconvene the Annual Meeting after failing to meet quorum, highlighting governance failures and concerns regarding the proposed acquisition by Ready Capital [2][4]. Group 1: Governance and Shareholder Engagement - UDF IV's failure to reconvene the Annual Meeting raises serious concerns about the Board's ability to protect shareholder interests, particularly in light of the proposed acquisition by Ready Capital [2][4]. - NexPoint calls for UDF IV to reconvene the Annual Meeting within 120 days and provide necessary disclosures for shareholders to assess the proposed transaction [3]. - The independent proxy advisory firm Glass Lewis shares concerns about UDF IV's governance and the timing of the Ready Capital deal, suggesting it may be an attempt to avoid accountability [4][5]. Group 2: Financial Disclosure and Accountability - NexPoint urges UDF IV to disclose the costs incurred by shareholders related to the Annual Meeting and efforts to avoid it, emphasizing the need for transparency [6]. - Shareholders are entitled to information to make informed decisions about the current Trustees and the proposed merger, and NexPoint encourages them to demand accountability [7]. Group 3: Shareholder Sentiment - NexPoint believes the vote at the Annual Meeting was much closer than reported, indicating significant shareholder dissatisfaction with UDF IV's leadership [4]. - The Company is accused of manipulating the Annual Meeting's purpose to sway votes in favor of the merger, which raises further concerns about governance practices [4][5].

Group 1 - The Conservative Income Portfolio aims to target value stocks with high margins of safety while reducing volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] Group 2 - The analysis of Ready Capital (NYSE: RC) has concentrated on the company's challenges and its efforts to achieve a clean balance sheet [2] - The forecast of distribution cuts for investors was accurately predicted [2]

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that it is commencing an underwritten public offering of senior unsecured notes due 2029 (the “Notes”). The Company intends to use the net proceeds from this offering to originate or acquire target assets consistent with its investment strategy and for general corporate purposes. The maturity, interest rate and other terms of the Notes will be determined at the time of pricing ...

Ready Capital Corporation (NYSE:RC) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Office Thomas Capasse - Chief Executive Officer Andrew Ahlborn - Chief Credit Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Douglas Harter - UBS Jade Rahmani - KBW Stephen Laws - Raymond James Christopher Nolan - Landenburg Thalmann Matt Howlett - B. Riley Securities Operator Greetings, and welcome to th ...

Ready Capital (RC) reported $50.97 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 13.6%. EPS of $0.25 for the same period compares to $0.28 a year ago.The reported revenue represents a surprise of -15.28% over the Zacks Consensus Estimate of $60.16 million. With the consensus EPS estimate being $0.23, the EPS surprise was +8.70%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Ready Capital (RC) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.70%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.26 per share when it actually produced earnings of $0.07, delivering a surprise of -73.08%.Over the last four quart ...

NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its third quarter 2024 financial results after the New York Stock Exchange closes on Thursday, November 7, 2024. Management will host a webcast and conference call on Friday, November 8, 2024 at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter ended September 30, 2024.  Webcast:The Company encourages use of ...

Ready Capital's (NYSE: RC ) most recent quarterly dividend at $0.25 per share , was a significant 25% reduction from its prior distribution. Its annualized distribution now stands at $1 per share, down from $1.44 per share a year ago. The mREIT The equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, hig ...