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Highlights

  • Ready Capital reported a GAAP loss per common share from continuing operations of 0.31 in Q2 2025.
  • Distributable loss per common share before realized losses stood at 0.10 for the quarter.
  • The company completed the sale of its Residential Mortgage Banking segment during the quarter.

Ready Capital Corporation (NYSE: RC) announced its financial results for the quarter ended June 30, 2025, reporting a GAAP loss per common share from continuing operations of 0.31. The company also posted a distributable loss per common share of 0.14, and a distributable loss per common share before realized losses of 0.10.

During the second quarter, Ready Capital originated USD 173 million in lower-to-middle-market (LMM) commercial real estate loans. The company’s Small Business Lending (SBL) segment recorded USD 359 million in loan originations, which included USD 216 million in Small Business Administration (SBA) 7(a) loans and USD 96 million in U.S. Department of Agriculture (USDA) loans. In a move to streamline operations, Ready Capital completed the sale of its Residential Mortgage Banking segment. The company also reported a book value of USD 10.44 per common share as of June 30, 2025.

Capital management activities during the quarter included the repurchase of approximately 8.5 million shares of common stock at an average price of USD 4.41 per share. Additionally, Ready Capital issued USD 50 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028.

Subsequent to quarter-end, on July 21, 2025, Ready Capital took ownership of a mixed-use property in Portland, Oregon, through a consensual deed-in-lieu transaction. The company stated that all components of the property will continue normal operations.

On August 6, 2025, the company completed the sale of 21 loans with a carrying value of USD 494 million, generating net proceeds of USD 85 million.