Ready Capital Corp
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
RC$1.04+22.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
| Nine Months Ended September 30, 2024 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Series E · Common Stock · Additional Paid-In Capital · Retained Earnings (Deficit) · Accumulated Other Comprehensive Loss · Total Ready Capital Corporation Equity · Non-controlling Interests · Total Stockholders' Equity | ||||||||||
| (in thousands, except share data) · Shares · Amount · Shares · Amount | ||||||||||
| Balance at December 31, 2023 | 4,600,000 | $111,378 | 172,276,105 | $17 | $2,321,989 | $124,413 | $(17,860) | $2,539,937 | $98,464 | $2,638,401 |
| Dividend declared: | ||||||||||
| Common stock ($0.85 per share) | — | — | — | — | — | (144,804) | — | (144,804) | — | (144,804) |
| OP units | — | — | — | — | — | — | — | — | (968) | (968) |
| $1.171875 per Series C preferred share | — | — | — | — | — | (393) | — | (393) | — | (393) |
| $1.218750 per Series E preferred share | — | — | — | — | — | (5,604) | — | (5,604) | — | (5,604) |
| Contributions, net | — | — | (1,981) | — | (18) | — | — | (18) | 600 | 582 |
| Stock-based compensation | — | — | 435,052 | — | 5,056 | — | — | 5,056 | — | 5,056 |
| Conversion of OP units into common stock | — | — | 420,000 | — | 3,632 | — | — | 3,632 | (3,632) | — |
| Share repurchases | — | — | (4,598,472) | — | (40,276) | — | — | (40,276) | — | (40,276) |
| Reallocation of non-controlling interest | — | — | — | — | 1,846 | — | (131) | 1,715 | (1,715) | — |
| Net income (loss) | — | — | — | — | — | (119,615) | — | (119,615) | 3,968 | (115,647) |
| Other comprehensive loss | — | — | — | — | — | — | (6,241) | (6,241) | (59) | (6,300) |
| Balance at September 30, 2024 | 4,600,000 | $111,378 | 168,530,704 | $17 | $2,292,229 | $(146,003) | $(24,232) | $2,233,389 | $96,658 | $2,330,047 |
| Nine Months Ended September 30, 2023 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Preferred Series E · Common Stock · Additional Paid-In Capital · Retained Earnings (Deficit) · Accumulated Other Comprehensive Loss · Total Ready Capital Corporation Equity · Non-controlling Interests · Total Stockholders' Equity | ||||||||||
| (in thousands, except share data) · Shares · Amount · Shares · Amount | ||||||||||
| Balance at December 31, 2022 | 4,600,000 | $111,378 | 110,523,641 | $11 | $1,684,074 | $4,994 | $(9,369) | $1,791,088 | $99,146 | $1,890,234 |
| Dividend declared: | ||||||||||
| Common stock ($1.16 per share) | — | — | — | — | — | (160,145) | — | (160,145) | — | (160,145) |
| OP units | — | — | — | — | — | — | — | — | (1,770) | (1,770) |
| $1.171875 per Series C preferred share | — | — | — | — | — | (393) | — | (393) | — | (393) |
| $1.218750 per Series E preferred share | — | — | — | — | — | (5,605) | — | (5,605) | — | (5,605) |
| Distributions, net | — | — | (503) | — | (6) | — | — | (6) | (163) | (169) |
| Shares issued pursuant to merger transaction | — | — | 62,229,429 | 6 | 637,223 | — | — | 637,229 | — | 637,229 |
| Equity issuances | — | — | — | — | 125 | — | — | 125 | — | 125 |
| Offering costs | — | — | — | — | (127) | — | — | (127) | (2) | (129) |
| Equity component of 2017 convertible note issuance | — | — | — | — | (191) | — | — | (191) | (3) | (194) |
| Stock-based compensation | — | — | 1,038,820 | — | 12,251 | — | — | 12,251 | — | 12,251 |
| Conversion of OP units into common stock | — | — | 163,401 | — | 1,821 | — | — | 1,821 | (1,821) | — |
| Share repurchases | — | — | (1,930,917) | — | (21,072) | — | — | (21,072) | — | (21,072) |
| Reallocation of non-controlling interest | — | — | — | — | 4,011 | — | (62) | 3,949 | (3,949) | — |
| Net income | — | — | — | — | — | 329,688 | — | 329,688 | 7,842 | 337,530 |
| Other comprehensive income | — | — | — | — | — | — | 3,503 | 3,503 | 24 | 3,527 |
| Balance at September 30, 2023 | 4,600,000 | $111,378 | 172,023,871 | $17 | $2,318,109 | $168,539 | $(5,928) | $2,592,115 | $99,304 | $2,691,419 |
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
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