Latest news with #ReadyCapital
Business Wire
24-07-2025
- Business
- Business Wire
Rosen Law Firm Urges Broadmark Realty Capital Inc. (NYSE: BRMK) Stockholders to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of persons and entities who held common stock of Broadmark Realty Capital Inc. (NYSE: BRMK) as of the record date of the May 30, 2023 Merger (the 'Merger Date') between Broadmark and Ready Capital Corporation. Broadmark describes itself as a 'real estate investment trust.' For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Broadmark Realty Capital Inc. (NYSE: BRMK) Misled Investors Regarding its Business Operations. According to the lawsuit, the Complaint alleges that the proxy statement used to solicit the support of Broadmark shareholders for the Merger contained false and/or misleading statements and/or failed to disclose that: (1) a material portion of borrowers within Ready Capital's originated portfolio were experiencing significant financial distress due to high interest rates that had increased their borrowing costs; (2) an oversupply of multifamily properties in Ready Capital's markets of operation had severely limited the ability of Ready Capital borrowers to raise their rents by the amounts necessary to cover their growing debt costs; (3) a major development project acquired in Ready Capital's acquisition of Mosaic Real Estate Credit, LLC, Mosaic Real Estate Credit TE, LLC, and MREC International Incentive Split, LP (a Ritz-Carlton located in Portland, Oregon), which accounted for approximately $500 million of Ready Capital's acquired loan portfolio, had experienced catastrophic setbacks since its inception, including significant cost overruns, construction delays, and funding shortfalls; (4) as a result, Ready Capital's Current Expected Credit Loss reserves and expected credit losses were materially understated; and (5) consequently, Ready Capital's financial projections regarding Ready Capital's Distributable Earnings per share, dividends per share, and book value per share had no basis in fact when made. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Broadmark Realty Capital Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 28, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome.
Yahoo
21-07-2025
- Business
- Yahoo
1 Small-Cap Stock to Target This Week and 2 We Brush Off
Many small-cap stocks have limited Wall Street coverage, giving savvy investors the chance to act before everyone else catches on. But the flip side is that these businesses have increased downside risk because they lack the scale and staying power of their larger competitors. The downside that can come from buying these securities is precisely why we started StockStory - to isolate the long-term winners from the losers so you can invest with confidence. That said, here is one small-cap stock that could amplify your portfolio's returns and two that could be down big. Two Small-Cap Stocks to Sell: Universal Display (OLED) Market Cap: $7.19 billion Serving major consumer electronics manufacturers, Universal Display (NASDAQ:OLED) is a provider of organic light emitting diode (OLED) technologies used in display and lighting applications. Why Are We Wary of OLED? Annual revenue growth of 4.3% over the last two years was below our standards for the semiconductor sector Estimated sales growth of 4.1% for the next 12 months is soft and implies weaker demand 5.7 percentage point decline in its free cash flow margin over the last five years reflects the company's increased investments to defend its market position Universal Display's stock price of $151.22 implies a valuation ratio of 32.7x forward EV-to-EBITDA. To fully understand why you should be careful with OLED, check out our full research report (it's free). Ready Capital (RC) Market Cap: $717.8 million Operating as one of only 17 non-bank Small Business Lending Companies with preferred lender status from the SBA, Ready Capital (NYSE:RC) is a multi-strategy real estate finance company that originates, acquires, and services commercial real estate loans, small business loans, and other real estate investments. Why Do We Pass on RC? Forecasted net interest income decline of 10.2% for the upcoming 12 months implies demand will fall off a cliff Falling earnings per share over the last five years has some investors worried as stock prices ultimately follow EPS over the long term Products and services are facing significant credit quality challenges during this cycle as tangible book value per share has declined by 6.5% annually over the last five years Ready Capital is trading at $4.25 per share, or 0.4x forward P/B. Dive into our free research report to see why there are better opportunities than RC. One Small-Cap Stock to Buy: Palomar Holdings (PLMR) Market Cap: $3.73 billion Founded in 2013 to fill gaps in catastrophe insurance markets, Palomar Holdings (NASDAQ:PLMR) is a specialty insurance provider that offers property and casualty insurance products in underserved markets, with a focus on earthquake coverage. Why Will PLMR Outperform? Market share has increased this cycle as its 32.3% annual net premiums earned growth over the last two years was exceptional Impressive 35% annual book value per share growth over the last two years indicates it's building equity value this cycle Capital strength will likely rise over the next 12 months as its expected book value per share growth of 24.6% is robust At $139.56 per share, Palomar Holdings trades at 4.1x forward P/B. Is now the right time to buy? Find out in our full research report, it's free. High-Quality Stocks for All Market Conditions Trump's April 2024 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines. Take advantage of the rebound by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Associated Press
02-07-2025
- Business
- Associated Press
INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Broadmark Realty Capital Inc., Ready Capital Corporation, Others and Announces Opportunity for Investors with Substantial Losses to Lead Securities Class Action Lawsuit – BRMK; RC
SAN DIEGO, July 02, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that holders of Broadmark Realty Capital Inc. (NYSE: BRMK) common stock as of the record date of the May 2023 merger between Broadmark and Ready Capital Corporation (NYSE: RC) ('Merger'), have until Monday, July 28, 2025 to seek appointment as lead plaintiff of the Broadmark class action lawsuit. Captioned Grant v. Broadmark Realty Capital , No. 25-cv-01013 (W.D. Wash.), the Broadmark class action lawsuit charges Broadmark, Ready Capital, certain of Broadmark's and Ready Capital's top executives and directors, as well as Ready Capital's external asset manager with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Broadmark class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected] . CASE ALLEGATIONS: Broadmark and Ready Capital are real estate investments trusts. On May 30, 2023, Broadmark shareholders voted to approve the merger of Broadmark and Ready Capital, which closed the next day. The Broadmark class action lawsuit alleges that the proxy statement used to solicit the support of Broadmark shareholders for the Merger contained false and/or misleading statements and/or failed to disclose that: (i) a material portion of borrowers within Ready Capital's originated portfolio were experiencing significant financial distress due to high interest rates that had increased their borrowing costs; (ii) an oversupply of multifamily properties in Ready Capital's markets of operation had severely limited the ability of Ready Capital borrowers to raise their rents by the amounts necessary to cover their growing debt costs; (iii) a major development project acquired in Ready Capital's acquisition of Mosaic Real Estate Credit, LLC, Mosaic Real Estate Credit TE, LLC, and MREC International Incentive Split, LP (a Ritz-Carlton located in Portland, Oregon), which accounted for approximately $500 million of Ready Capital's acquired loan portfolio, had experienced catastrophic setbacks since its inception, including significant cost overruns, construction delays, and funding shortfalls; (iv) as a result, Ready Capital's Current Expected Credit Loss reserves and expected credit losses were materially understated; and (v) consequently, Ready Capital's financial projections regarding Ready Capital's Distributable Earnings per share, dividends per share, and book value per share had no basis in fact when made. The price of Ready Capital stock has remained significantly below the Merger price as of the time the Broadmark class action lawsuit was filed. The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here . THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who held Broadmark common stock as of the record date of the Merger to seek appointment as lead plaintiff in the Broadmark class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Broadmark class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Broadmark class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Broadmark class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected]
Yahoo
28-06-2025
- Business
- Yahoo
Ready Capital Corporation (RC) Declares Quarterly Dividends
Ready Capital Corporation (NYSE:RC) is one of the 10 best-value penny stocks to buy, according to analysts. On June 14, the company's board of directors approved a cash dividend of $0.125 per share of common stock. The dividend will be paid to shareholders on July 31, 2025, as of the close of business on June 30, 2025. Copyright: bugtiger / 123RF Stock Photo In addition, the board declared a quarterly cash dividend on its 6.25% Series C Cumulative Convertible Preferred Stock and 6.50% Series E Cumulative Redeemable Preferred Stock. It also declared a dividend of $0.390625 per share of Series C Preferred Stock, payable to Series C Preferred stockholders on July 15, 2025. The quarterly dividends come on the heels of Ready Capital generating a net income of $81.97 million for its first quarter of 2025. It was a significant turnaround from a net loss of $74.17 million for the same quarter last year. Ready Capital Corporation (NYSE:RC) is a real estate finance company that originates, acquires, finances, and services commercial real estate loans for small to medium-sized businesses. It also offers small business loans through the SBA 7(a) program and provides financing for commercial real estate, including agency multifamily, investor, and bridge loans. While we acknowledge the potential of RC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
RC Q1 Deep Dive: Asset Liquidations and Credit Repositioning Dominate Start to 2025
Real estate finance company Ready Capital (NYSE:RC) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 140% year on year to $31.32 million. Its non-GAAP loss of $0.09 per share was significantly below analysts' consensus estimates. Is now the time to buy RC? Find out in our full research report (it's free). Revenue: $31.32 million vs analyst estimates of $72.38 million (140% year-on-year growth, 56.7% miss) Adjusted EPS: -$0.09 vs analyst estimates of $0.12 (significant miss) Market Capitalization: $767.3 million Ready Capital's first quarter results for 2025 were met with a significant negative market reaction, as the company's revenue and adjusted earnings per share both missed Wall Street expectations. Management attributed the quarter's performance to a combination of ongoing asset liquidations in the non-core commercial real estate portfolio and continued pressure from non-accrual loans, which reduced net interest income. CEO Thomas Edward Capasse highlighted the impact of transitioning assets to non-accrual status and noted, 'The dividend shortfall was primarily due to a reduction in net interest income as assets in the non-core portfolio transition to non-accrual status.' Looking forward, Ready Capital's management is focused on executing a balance sheet repositioning plan designed to stabilize earnings and restore net interest margin levels. The company expects its strategy of liquidating non-core assets and reinvesting proceeds into core higher-yield bridge loans to gradually improve earnings, with CFO Andrew Ahlborn stating, 'The upward trend really will start upon reinvestment of that equity I just described.' Management also pointed to potential benefits from policy changes in Small Business Administration lending and the stabilization of key real estate assets. Management cited active portfolio repositioning, capital market execution, and sector-specific challenges as the main factors influencing the first quarter's results and the company's near-term outlook. Non-core asset liquidations: Ready Capital surpassed its first quarter liquidation targets in the non-core commercial real estate portfolio, generating $28 million in liquidity and reducing the portfolio by 6%. Management views these sales as key to reducing negative carry and creating capital for reinvestment. Core bridge loan stability: The core portfolio, which is heavily concentrated in multifamily assets, saw a 5% decline in volume due to payoffs, but credit metrics remained relatively healthy. Modifications increased, with 18% of loans now altered to accommodate borrower needs, supporting future net interest margin rebuilding. Portland mixed-use asset update: The previously performing construction loan in Portland shifted to non-accrual status, resulting in a $0.13 per share earnings reduction. Management is moving to obtain title and expects to sequentially exit the asset's hotel, office, and condo components as they stabilize. SBA lending volume and policy changes: Small Business Administration (SBA) loan originations remained high but are expected to moderate due to capital constraints and administrative delays at the SBA. Management is monitoring policy updates and supports recent changes aimed at strengthening the program. Capital markets activity: Ready Capital completed a merger with UDF IV, generating $96 million in liquidity and a $102.5 million bargain purchase gain. The company also executed secured debt offerings and collapsed several collateralized loan obligations (CLOs) to extend maturities and improve liquidity. Ready Capital's outlook centers on the pace of asset sales, reinvestment strategy, and the evolving landscape in SBA and multifamily lending. Execution of asset liquidation plan: Management expects continued reductions in the non-core portfolio throughout 2025, with proceeds targeted for reinvestment into core higher-yield loans. The timing and pricing of these asset sales will influence the recovery in net interest margin and distributable earnings. Stabilization of the Portland project: The company anticipates that the sequential stabilization and eventual exit of the hotel, office, and condo components in the Portland mixed-use asset will be critical for improving earnings, though management cautioned that full stabilization could take several years, especially for condo sales. Regulatory and policy impact on SBA volumes: SBA origination volumes are expected to remain below platform capacity due to administrative delays and changing guidelines, but management highlighted that successful adoption of new SBA policies and legislative changes could eventually support higher future origination volumes and gain-on-sale margins. In the coming quarters, our analysts will be monitoring (1) the pace and pricing of non-core asset liquidations and reinvestment into the core loan portfolio, (2) progress toward stabilization of the Portland mixed-use asset and subsequent asset sales, and (3) shifts in SBA loan origination volumes as new policies and legislative changes take effect. The impact of capital market access and debt refinancing will also be closely tracked. Ready Capital currently trades at $4.50, up from $4.37 just before the earnings. Is there an opportunity in the stock?Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
