Ready Capital Q2 GAAP EPS $1.87; completes $867M Broadmark merger

Ready Capital Corp

2023-Q2 EPS reported $2.17

GAAP EPS $1.87; distributable EPS $0.36; distributable ROE 9.3% for Q2 2023.
Completed $867M acquisition of Broadmark Realty Capital, becoming 4th largest commercial mortgage REIT.
Total investments $1.1B: $512M SBC originations, $424M residential mortgage loans, $121M SBA 7(a).
Closed $649M securitization of floating rate SBC loans; sold $509M senior bonds at SOFR+2.94%.
Initiated $100M stock buyback; repurchased 1.7M shares at avg $10.82; declared $0.40/share dividend.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Ready Capital Corp reported financial results for quarter ended June 30, 2023.

Period: quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 7, 2023, Ready Capital Corporation (the “Company”) issued an earnings release announcing the financial results for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001558370-23-013611

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