Overview

* Ready Capital ( RC ) 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 ( RC ) 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 ( RC ) is $4.00, about 24% above its November 5 closing price of $3.04

Press Release:

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(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.)