Ready Capital (RC)
Originates, acquires, finances, and services lower-market CRE and government-guaranteed business loans.
Something off on this page? Send us feedback.
Originates and services lower-to-middle-market commercial real estate loans, agency multifamily loans, bridge and construction loans, and SBA- or USDA-backed small-business credit. The continuing business is concentrated in U.S. specialty lending, externally managed by Waterfall Asset Management, and still shaped by legacy CRE exposure and balance-sheet repositioning.
Originates, acquires, finances, and services loans through LMM Commercial Real Estate and Small Business Lending. The platform focuses on lower-to-middle-market investor and owner-occupied commercial real estate, agency multifamily, bridge and construction credit, and SBA- or USDA-backed small-business lending across the United States.
Operates as a mortgage REIT managed by Waterfall Asset Management, with public-market access shaped by the Sutherland and ZAIS lineage and later specialty-finance acquisitions. Residential mortgage banking has been sold, leaving current operations centered on CRE and government-guaranteed business credit.
Execution depends on credit selection, servicing, asset sales, and access to financing. Recent company reporting emphasizes liquidity generation, legacy CRE exposure reduction, debt-maturity management, and elevated core CRE delinquencies during the balance-sheet repositioning.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 16, 2026 | UBS | Reiterate | Rating: —Target: $3.50 | Target: $2 |
| Dec 22, 2025 | Piper Sandler | Reiterate | Rating: —Target: $5.50 | Target: $2.50 |
| Oct 14, 2025 | UBS | Reiterate | Rating: —Target: — | Target: $3.50 |
| Jan 7, 2025 | B. Riley Securities | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $124.1M · Total debt $4.66B · Total assets $6.26B · Shareholders' equity $1.25B
- Revenue
- $69.5M
- Operating income
- −$30.4M
- Net income
- −$101.5M
HistoryDividendAnnual yieldUpcoming
| Institutions | 58.28% | 96.28M shares | |
|---|---|---|---|
| 235 holders · as of Jun 30, 2026 | |||
| Insiders | 10.86% | 17.93M shares | |
| 12 holders · as of Jun 2, 2026 | |||
| Other | 30.86% | 50.98M shares | |
| remainder | |||
165.19M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 10.74% | 17.75M | as of Jun 30, 2026 |
Amster HowardInsider | 8.62% | 14.24M | filed Nov 10, 2025 |
UBS Group AGInstitution | 6.88% | 11.36M | as of Jun 30, 2026 |
Private Management Group IncInstitution | 4.80% | 7.93M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.93% | 6.49M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 29, 2025 | Andrew Ahlborn | officer: Chief Financial Officer | +358 | $4.17 |
| Jul 30, 2025 | Andrew Ahlborn | officer: Chief Financial Officer | +377 | $4.16 |
| Oct 30, 2025 | Andrew Ahlborn | officer: Chief Financial Officer | +565 | $2.93 |
| May 29, 2026 | Andrew Ahlborn | officer: Chief Financial Officer | −2,799 | $1.81 |
| May 29, 2026 | Andrew Ahlborn | officer: Chief Financial Officer | +2,799 | $1.82 |
- Arbor Realty Trust
Multifamily bridge and agency lender with direct overlap
- Starwood Property Trust
Large CRE lender competing for first-mortgage and mezzanine deals
- Blackstone Mortgage Trust
Institutional senior-loan platform in commercial real estate debt
- Franklin BSP Realty Trust
CRE debt and agency multifamily platform with NewPoint overlap
- Ladder Capital
Middle-market CRE finance lender with first-mortgage overlap
- KKR Real Estate Finance Trust
Transitional senior-loan REIT focused on institutional CRE assets
- NewtekOne
SBA-focused small-business lender and financial holding company
- ACRES Commercial Realty
Middle-market CRE mortgage REIT with transitional multifamily focus
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ready Capital | $1.58 | −5.12% | $274.3M | — | — | 0.7 | −107.6% |
| Arbor Realty Trust | $4.33 | −1.48% | $844.5M | 32.4 | 10.2 | 0.7 | −11.1% |
| Starwood Property Trust | $14.90 | −1.36% | $5.60B | 22.2 | 8.9 | 2.8 | +7.9% |
| Blackstone Mortgage Trust | $12.83 | −2.36% | $2.21B | 164.3 | 10.6 | 1.5 | +18.1% |
| Franklin BSP Realty Trust | $7.64 | −1.48% | $643.6M | 17.5 | 7.3 | 1.2 | −45.4% |
| Ladder Capital | $9.23 | −1.97% | $1.19B | 22.4 | 8.5 | 3.1 | −40.9% |
| KKR Real Estate Finance Trust | $6.40 | −3.40% | $425.7M | — | — | 1.0 | −41.6% |
| NewtekOne | $11.49 | −1.60% | $337.4M | 4.9 | 5.7 | 1.0 | +7.0% |
| ACRES Commercial Realty | $12.15 | −2.07% | $88.5M | — | 8.8 | 0.5 | −50.2% |
| Median | 22.3 | 8.8 | 1.1 | −26.0% |