Ready Capital posts Q2 loss; CEO says earnings pressure narrowing

Ready Capital

06/08/2026 22:19

Overview
U.S. real estate finance firm's Q2 GAAP loss per share was $0.63, with distributable loss per share at $0.47
Company generated $1.4 bln in cash YTD from loan sales and portfolio runoff
CEO says pace of book value reduction decelerating and earnings pressure narrowing
Securitized $158.2 mln of SBA 7(a) loans, adding $24.6 mln liquidity and $500 mln funding capacity

Outlook
Ready Capital says it is focused on meeting fourth-quarter debt maturities
Company is increasingly looking to restart growth in CRE debt investing and SBA 7(a) lending

Result Drivers
BALANCE SHEET REPOSITIONING - Co said Q2 results reflect continued progress on balance sheet repositioning, with slower book value reduction and narrowing earnings pressure, per CEO Thomas Capasse
LOAN SALES AND PORTFOLIO RUNOFF - Co generated $1.4 bln in cash YTD from loan sales and portfolio runoff, paying down over $1 bln in asset-level financing and retiring $184 mln of corporate debt
SBA LOAN SECURITIZATION - Securitized $158.2 mln of unguaranteed SBA 7(a) loans, generating $24.6 mln net liquidity and $500 mln additional funding capacity for 7(a) production

Company press release: ID:nGNX9f0Fqt

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Loss Per Share
 
$0.63
 
Q2 Net Loss
 
$99.68 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 $2.00, about 29% above its August 6 closing price of $1.55

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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.)