Ready Capital Reports Q3 2026 Results with Improved GAAP Loss and Reduced Leverage
Ready Capital (RC) reported its third-quarter 2026 financial results, showing a narrowing of losses. The company reported a GAAP loss per common share of $0.40, an improvement over the $0.63 loss in the previous quarter. While distributable loss per share stood at $0.53 due to $53.9 million in realized losses from asset resolutions, the distributable loss excluding realized losses improved by $0.03 compared to Q2. The company is actively repositioning its balance sheet, successfully reducing total leverage to 2.8x toward a long-term target of 2.5x and completing the retirement of its 2026 corporate debt maturities. Despite these improvements, book value per share declined to $6.44 due to operational losses and loan sales. Management noted that rising Treasury yields continue to pressure multifamily transaction volumes and prices, which may extend the timeline for legacy portfolio realizations.
Coverage
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