RC on NYSE

Ready Capital Corp

The commercial mortgage market is largely bifurcated by loan size between “large balance” loans and LMM loans.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerRC on NYSE2
  • IndustryReal Estate Investment Trusts2
  • HeadquartersNew York, United States2
  • Incorporated inMD3
  • Business address1251 Avenue Of The Americas, 50Th Floor, New York, Ny 100203
  • Filer categoryLarge accelerated filer3
  • Legal formCORPORATION2
  • LEI549300MYWGZUG7ZUYO872
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O The Corporation Trust Incorporated, 21093-2264 Lutherville Timonium, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), D141342412

The commercial mortgage market is largely bifurcated by loan size between “large balance” loans and LMM loans.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income5678-$221.1M in 2025
-$600.0M-$400.0M-$200.0M0$200.0M$400.0M2019: $73.0M$73.0M20192020: $44.9M$44.9M2020−39%2021: $160.0M$160.0M2021+257%2022: $203.2M$203.2M2022+27%2023: $348.4M$348.4M2023+71%2024: -$430.4M-$430.4M20242025: -$221.1M-$221.1M2025−49%

Every line of the income statement as filed: the last 3 fiscal years, latest first.8

Period ending2025-12-312024-12-312023-12-31
Interest income$569.2M$897.0M$945.8M
Interest expense-$514.1M-$696.5M-$716.5M
Net interest income before provision for loan losses$55.0M$200.5M$229.3M
Provision for loan losses-$87.0M-$292.8M-$7.2M
Net interest income after provision for loan losses-$32.0M-$92.2M$222.1M
Net realized gain (loss) on financial instruments and real estate owned-$142.1M-$54.0M$65.0M
Net unrealized gain (loss) on financial instruments-$13.2M-$15.0M$9.7M
Valuation recovery (allowance), loans held for sale$15.4M-$124.9M$0
Servicing income, net of amortization and impairment of $29,919, $21,972 and $7,911$18.7M$16.6M$21.2M
Bargain purchase gain$109.5M$13.9M$208.0M
Income (loss) on unconsolidated joint ventures$4.6M$10.9M-$905.0K
Other income$53.7M$50.8M$105.5M
Total non-interest income (expense)$46.7M-$101.8M$408.5M
Professional fees-$30.8M-$26.9M-$34.7M
Loan servicing expense-$41.3M-$46.7M-$40.8M
Transaction related expenses-$6.0M-$10.1M-$17.8M
Impairment on real estate-$23.5M-$56.5M-$8.6M
Other operating expenses-$91.0M-$63.6M-$51.0M
Total non-interest expense-$317.3M-$322.5M-$272.2M
Income (loss) from continuing operations before benefit for income taxes-$302.6M-$516.5M$358.4M
Income tax benefit (provision)$86.7M$104.5M-$7.2M
Net income (loss) from continuing operations-$215.9M-$412.0M$351.2M
Loss from discontinued operations before income tax benefit-$6.9M-$24.5M-$3.8M
Income tax benefit$1.7M$6.1M$945.0K
Net loss from discontinued operations-$5.2M-$18.4M-$2.8M
Net income (loss)-$221.1M-$430.4M$348.4M
Less: Dividends on preferred stock$8.0M$8.0M$8.0M
Less: Net income attributable to non-controlling interest$7.9M$5.4M$9.0M
Net income (loss) attributable to Ready Capital Corporation-$236.9M-$443.8M$331.5M
Earnings per common share from continuing operations - basic (in dollars per share)-$1-$3$2
Earnings per common share from discontinued operations - basic (in dollars per share)-$0-$0-$0
Total earnings per common share - basic (in dollars per share)-$1.44-$2.63$2.25
Earnings per common share from continuing operations - diluted (in dollars per share)-$1-$3$2
Earnings per common share from discontinued operations - diluted (in dollars per share)-$0-$0-$0
Total earnings per common share - diluted (in dollars per share)-$1.44-$2.63$2.22
Basic (in dollars per share)164.5M shares169.1M shares146.8M shares
Diluted (in dollars per share)167.3M shares170.5M shares148.6M shares
Dividends declared per share of common stock (in dollars per share)$0.39$1.10$1.46
Servicing income, amortization and impairment$29.9M$22.0M$7.9M

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Leadership

Who has led Ready Capital Corp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (24)

Former names

  • Sutherland Asset Management CorpSep 30, 2016 to Sep 4, 20183
  • ZAIS Financial Corp.Aug 9, 2011 to Nov 4, 20163

Timeline

  1. Nov 10, 2016New chief executive Thomas E. Capasse becomes CEO14
  2. Feb 7, 2013New chief executive Michael Szymanski becomes CEO15
  3. May 24, 2011Founded Ready Capital Corp is founded2

Filings

307 filings to the SEC since October 2021: 9 annual reports, 15 quarterly reports, 67 major events, 96 insider forms, 17 large holders, 103 other. The latest 20:

  1. Sep 28, 20268-K EDGAR
  2. Sep 23, 20268-K EDGAR
  3. Sep 18, 20268-K EDGAR
  4. Aug 7, 202610-Q EDGAR
  5. Aug 6, 20268-K EDGAR
  6. Jul 23, 20268-K EDGAR
  7. Jul 17, 2026S-8 EDGAR
  8. Jun 2, 20264 EDGAR
  9. Jun 1, 2026DEF 14A EDGAR
  10. Jun 1, 2026ARS EDGAR
  11. May 29, 2026144 EDGAR
  12. May 8, 202610-Q EDGAR
  13. May 7, 20268-K EDGAR
  14. Apr 30, 202610-K/A EDGAR
  15. Apr 22, 202625-NSE EDGAR
  16. Mar 27, 2026SCHEDULE 13G/A EDGAR
  17. Mar 24, 20268-K EDGAR
  18. Mar 17, 20264 EDGAR
  19. Mar 17, 20264 EDGAR
  20. Mar 17, 20263 EDGAR

The 307 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

29 open-market trades by officers, directors and large owners since October 2021: 25 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 29, 2026Ahlborn AndrewChief Financial OfficerBuy2,799$1.82$5.1KForm 4
May 29, 2026Ahlborn AndrewChief Financial OfficerSale2,799$1.81$5.1KForm 4
Mar 6, 2026NATHAN GILBERT EDirectorBuy30,000$1.95$58.5KForm 4
Mar 5, 2026NATHAN GILBERT EDirectorBuy10,000$2.02$20.2KForm 4
Oct 30, 2025Ahlborn AndrewChief Financial OfficerBuy565$2.93$1.7KForm 4
Jul 30, 2025Ahlborn AndrewChief Financial OfficerBuy377$4.16$1.6KForm 4
Apr 29, 2025Ahlborn AndrewChief Financial OfficerBuy358$4.17$1.5KForm 4
Mar 12, 2025Ahlborn AndrewChief Financial OfficerBuy10,000$5.04$50.4KForm 4
Mar 10, 2025NATHAN GILBERT EDirectorBuy5,000$5.12$25.6KForm 4
Mar 10, 2025Taylor GaryChief Operating OfficerBuy10,000$5.23$52.3KForm 4
Mar 7, 2025Zausmer AdamChief Credit OfficerBuy10,000$5.42$54.2KForm 4
Mar 6, 2025Capasse Thomas ECEO and CIOBuy90,000$4.99$449.1KForm 4
Mar 5, 2025Capasse Thomas ECEO and CIOBuy10,000$4.80$48.0KForm 4
Mar 5, 2025Ross Jack J.PresidentBuy5,000$4.85$24.2KForm 4
May 24, 2024NATHAN GILBERT EDirectorBuy10,000$8.29$82.9KForm 4
Mar 22, 2024NATHAN GILBERT EDirectorBuy9,150$9.12$83.5KForm 4
Mar 14, 2024NATHAN GILBERT EDirectorBuy10,000$8.65$86.5KForm 4
Mar 5, 2024LUEBBERS KEVIN MDirectorBuy5,000$8.43$42.1KForm 4
Aug 15, 2023Capasse Thomas ECEO and CIOSale26,623$10.70$284.9KForm 4
Mar 8, 2023NATHAN GILBERT EDirectorBuy3,841$11.05$42.4KForm 4

All 29 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.17,747,767$31.1M0.0%+3,250,961
UBS Group AG11,361,883$19.9M0.0%+75,072
Private Management Group Inc7,932,521$13.9M0.4%+689,928
Vanguard Capital Management LLC6,489,106$11.4M0.0%−21,055
Mason Capital Management LLC4,319,933$7.6M1.2%No change
Geode Capital Management, LLC3,926,983$6.9M0.0%+184,950
Waterfall Asset Management, LLC3,908,983$6.8M5.8%No change
State Street Corp3,355,345$5.9M0.0%−38,533
Aqr Capital Management LLC3,147,977$5.5M0.0%+1,514,986
Charles Schwab Investment Management Inc3,038,221$5.3M0.0%−194,908
Goldman Sachs Group Inc1,796,045$3.1M0.0%−285,408
Morgan Stanley1,792,938$3.1M0.0%+93,976
Tudor Investment Corp Et Al1,292,949$2.3M0.0%+71,310
Ramsey Quantitative Systems1,249,003$2.2M2.0%No change
Northern Trust Corp1,209,565$2.1M0.0%−255,596
Qube Research & Technologies Ltd1,209,540$2.1M0.0%−178,357
Vanguard Portfolio Management LLC1,208,816$2.1M0.0%+100,979
Quadrant Private Wealth Management, LLC1,105,627$1.9M0.4%−7,187
Vanguard Fiduciary Trust Co1,023,341$1.8M0.0%+48,570
Mariner, LLC1,018,434$1.8M0.0%+96,779
Soltis Investment Advisors LLC863,008$1.5M0.1%−35,643
Nexpoint Asset Management, L.P.850,129$1.5M0.1%No change
D. E. Shaw & Co., Inc.727,537$1.3M0.0%+68,350
Arax Advisory Partners597,353$1.0M0.0%+47,663
Atom Investors LP581,559$1.0M0.1%−124,037

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 16, 2022Christopher L. Jacobs, HouseBuy$15,001 - $50,000−200.5%Report
Jun 16, 2022Christopher L. Jacobs, HouseBuy$15,001 - $50,000−200.5%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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