Ready Capital Q3 loss per share at $0.13
Ready Capital reported a Q3 GAAP loss per share of $0.13, with a distributable loss of $0.94. The company completed sales of 217 loans, generating $109 million in proceeds, and repurchased 2.5 million shares at $4.17 each. The company aims to restore financial health through strategic exits and risk management. Current analyst ratings average a 'hold', with a median 12-month price target of $4.00, reflecting a 24% upside from its recent closing price of $3.04.
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Overview
- Ready Capital Q3 GAAP loss per share at $0.13, with a distributable loss of $0.94
- Company completed sales of 217 loans, netting $109 mln in proceeds
- Ready Capital repurchased 2.5 mln shares at $4.17 each
Outlook
- Company focuses on restoring financial health through strategic exits and risk management
Result Drivers
- LOAN ORIGINATIONS - Co originated $139 mln in LMM commercial real estate and $283 mln in small business lending, including SBA and USDA loans
- PORTFOLIO SALES - Co completed sales of 217 loans with unpaid principal balance of $758 mln, netting $109 mln in proceeds
- STOCK REPURCHASE - Co acquired 2.5 mln shares at an average price of $4.17 per share as part of stock repurchase program
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 EPS -$0.13
Q3 Net -$16.74
Income mln
Analyst Coverage
- The current average analyst rating on the shares is “hold” and the breakdown of recommendations is no “strong buy” or “buy”, 6 “hold” and 1 “sell” or “strong sell”
- The average consensus recommendation for the specialized reits peer group is “buy.”
- Wall Street’s median 12-month price target for Ready Capital Corp is $4.00, about 24% above its November 5 closing price of $3.04
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
