Group 1 - The Company declared a quarterly cash dividend of $0.125 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2025, payable on July 31, 2025 [1] - The Company announced a dividend of $0.390625 per share of its 6.25% Series C Cumulative Convertible Preferred Stock, payable on July 15, 2025 [2] - A dividend of $0.40625 per share of its 6.50% Series E Cumulative Redeemable Preferred Stock was also declared, payable on July 31, 2025 [3] Group 2 - Ready Capital Corporation is a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market investor and owner-occupied commercial real estate loans [4] - 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 [4] - The Company is headquartered in New York and employs approximately 500 professionals nationwide [4]

Core Points - Ready Capital Corporation declared a quarterly cash dividend of $0.125 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2025, payable on July 31, 2025, to shareholders of record as of June 30, 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 July 15, 2025, to Series C Preferred stockholders of record as of June 30, 2025 [2] - Additionally, a dividend of $0.40625 per share of its 6.50% Series E Cumulative Redeemable Preferred Stock was declared, payable on July 31, 2025, to Series E Preferred stockholders of record as of June 30, 2025 [3] Company Overview - Ready Capital Corporation is a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market investor and owner-occupied commercial real estate loans [4] - 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 [4] - Headquartered in New York, the Company employs approximately 500 professionals nationwide [4]

Core Insights - Invesco Commercial Real Estate Finance Trust, Inc. (INCREF) has provided $354.6 million in financing to Bridge Logistics Properties (BLP) for refinancing an industrial assets portfolio [1][3] - The portfolio consists of 24 properties totaling 2,454,761 square feet located in key states including California, Washington, Texas, New Jersey, New York, and Florida [2] - This financing aligns with INCREF's strategy of originating high-quality, income-generating loans secured by institutional quality assets in liquid markets across the US and Europe [3] Company Overview - INCREF is a perpetual life real estate investment trust focused on private credit secured by real estate, managed by Invesco Advisers, Inc. [4] - Invesco Real Estate, a global leader in real estate investment management, manages $85 billion in real estate assets and has a workforce of 605 employees across 21 regional offices [5] - Bridge Logistics Properties is a vertically integrated logistics real estate investment manager founded in 2021, led by experienced professionals from notable firms [7][8] Financial Strategy - The loan provided to BLP is characterized as a sub-70% loan-to-value loan secured by a diversified portfolio of well-leased, cash-flowing industrial properties [3] - With this financing, INCREF's portfolio now totals 61 loans representing over $3.6 billion in loan commitments across the US and Europe [3] Market Position - BLP focuses on value-driven investment strategies and collaborates closely with institutional capital partners, targeting coastal and gateway markets in the US [8] - Bridge Investment Group, the parent company of BLP, manages approximately $49 billion in assets and operates across various specialized asset classes [10]

Core Insights - The article discusses the background and expertise of a financial analyst named Harrison, who has been active on Seeking Alpha since 2018 and has over a decade of market experience [1]. Group 1 - Harrison has professional experience in private equity, real estate, and economic research [1]. - He possesses an academic background in financial econometrics, economic forecasting, and global monetary economics [1].

NEW YORK, May 12, 2025 /PRNewswire/ -- Lument Finance Trust, Inc. (NYSE: LFT) ("we", "LFT" or "the Company") today reported its first quarter results. GAAP net loss attributable to common shareholders for the first quarter was $1.7 million, or $0.03 per share of common stock. Distributable earnings for the first quarter were $4.0 million, or $0.08 per share of common stock. The Company has also issued a detailed presentation of its results, which can be viewed at www.lumentfinancetrust.com.Conference Call a ...

- GAAP EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS OF $0.47 -- DISTRIBUTABLE LOSS PER COMMON SHARE OF $(0.09) -- DISTRIBUTABLE EARNINGS PER COMMON SHARE BEFORE REALIZED LOSSES OF $0.00 - NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (“Ready Capital” or the “Company”) (NYSE: RC), a multi-strategy real estate finance company that originates, acquires, finances, and services lower-to-middle-market (“LMM”) investor and owner-occupied commercial real estate loans, today reported f ...

Core Viewpoint - Ready Capital Corporation is facing increased scrutiny from investors due to two securities class-action lawsuits that question its financial reporting and have led to a significant decline in its stock price [1][5]. Group 1: Lawsuits and Allegations - The second lawsuit, Goebel v. Ready Capital Corporation, alleges an expanded class period from August 8, 2024, to March 2, 2025, representing investors who acquired Ready Capital common stock during this timeframe [2][3]. - The lawsuits accuse Ready Capital and its executives of violating federal securities laws by misleading investors about the company's credit metrics and downplaying issues in its commercial real estate loan portfolio [3][4]. - The Goebel complaint highlights that investors were misled about the company's financial health, with a shocking fourth-quarter net loss of $1.80 per share and a full-year loss of $2.52 per share for 2024, attributed to a $284 million reserve for underperforming loans [4]. Group 2: Market Reaction and Financial Impact - Following the announcement of the financial losses, Ready Capital's shares plummeted nearly 27%, significantly impacting shareholder equity and raising concerns about the company's risk management practices [5]. - The company's book value also experienced a sharp decline, further indicating financial distress [4]. Group 3: Investigation and Findings - Hagens Berman, a law firm, is actively investigating Ready Capital's financial disclosures during the class period and is encouraging affected investors to come forward [6][7]. - The investigation aims to determine if Ready Capital intentionally obscured the severity of its non-performing loans, which were not accurately reflected in its financial reporting [7]. - Key findings suggest that the company's performance improvement initiatives did not adequately address the risks in its commercial real estate portfolio, contradicting the CEO's assurances about stabilizing credit metrics [7].

NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that it has filed a lawsuit against Ready Capital Corporation (NYSE: RC) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Ready Capital, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/ready-capital-corporation. Investors have until May 5, 2025, to ask the Court to be a ...

Core Viewpoint - A lawsuit has been filed against Ready Capital Corporation and its senior executives for potential violations of federal securities laws, focusing on misrepresentation of the company's financial health due to non-performing loans [1][2][4]. Company Overview - Ready Capital is a real estate finance company that specializes in originating, acquiring, financing, and servicing lower-to-middle-market commercial real estate loans, small business administration loans, and other real estate-related investments [3]. Allegations - The lawsuit alleges that the defendants misrepresented the impact of significant non-performing loans in Ready Capital's commercial real estate portfolio, which were adversely affecting the company's financial performance and were unlikely to be collectible [4]. - It is claimed that these non-performing loans were not accurately reflected in the company's current expected credit loss (CECL) or valuation allowances, leading to materially false and misleading financial results [4]. Financial Impact - On March 3, 2025, Ready Capital announced a financial charge of $382 million, which included $284 million related to CECL and valuation allowances on non-performing loans, and a reduction in its dividend to $0.125 per share [5]. - Following this announcement, Ready Capital's stock price fell nearly 27%, from $6.93 per share on February 28, 2025, to $5.07 per share on March 3, 2025 [6].

Financial Data and Key Metrics Changes - The company reported distributable earnings of $57.3 million or $0.28 per share, and $0.31 per share excluding one-time realized losses from the sale of REO assets [19] - The return on equity (ROE) for the first quarter was approximately 10% [19] - The company anticipates distributable earnings guidance of $0.30 to $0.35 per quarter for 2025 [19][20] Business Line Data and Key Metrics Changes - In the balance sheet lending platform, the company originated $370 million of new bridge loans in the first quarter, with a target of $1.5 billion to $2 billion for 2025 [13] - The agency business had a slow first quarter, producing $6 million in originations and $731 million in loan sales, maintaining strong margins of 1.75% [25] - The investment portfolio grew to $11.5 billion at March 31, with an all-in yield of 7.85% [26] Market Data and Key Metrics Changes - The company experienced a significant backup in long-term rates, creating headwinds for originations [7] - The delinquency rate decreased by 20% to $654 million as of March 31 compared to $819 million at December 31 [22] - The average cost of debt decreased to approximately 6.82% at March 31 from 6.88% at December 31 [28] Company Strategy and Development Direction - The company is focused on resolving REO assets and delinquencies, viewing 2025 as a transitional year [18] - A transformational deal was announced with a $1.1 billion repurchase facility to finance assets in existing CLO vehicles, enhancing liquidity and efficiency [4][5] - The company aims to leverage the securitization market to drive higher returns on capital and increase future earnings [37] Management's Comments on Operating Environment and Future Outlook - Management noted that the current rate environment is volatile and unpredictable, impacting the ability to forecast future earnings [8] - There is optimism regarding a potential reduction in interest rates, which could positively affect agency volumes and earnings [9] - The company is actively working to reposition underperforming assets and improve occupancy and net operating income (NOI) over the next 12 to 24 months [11] Other Important Information - The company has taken back approximately $197 million of REO assets and expects to see these assets grow to between $400 million and $500 million [52] - The average balance on debt facilities was down to approximately $9.4 billion for the first quarter compared to $9.7 billion in the fourth quarter [28] Q&A Session Summary Question: What is the outlook for net growth in the Bridge portfolio in 2025? - Management expects net growth in the Bridge portfolio, targeting $1.5 billion to $2 billion in new business while managing runoff effectively [33] Question: What were the primary weaknesses in the 2022 and 2023 vintages? - Management highlighted that the multifamily sector experienced a long period of growth without corrections, leading to poor performance due to economic factors and management issues [39][41] Question: What is the current cash and liquidity situation? - The company has approximately $325 million in cash and liquidity, with plans to enhance leverage and grow liquidity through the securitization market [48][49] Question: What is the expected trajectory for NPLs and REO? - Management anticipates NPLs to decrease and REO to increase to between $400 million and $500 million, focusing on repositioning these assets [52][54] Question: What is the book value at the end of the quarter? - The book value was reported at $11.98 at the end of the quarter [76]