Ready Capital Q1: GAAP EPS $0.47 but distributable loss $(0.09); book value $10.61

Ready Capital Corp

2025-Q1 EPS reported $0.46

GAAP EPS $0.47; distributable loss per share $(0.09); distributable earnings before realized losses $0.00.
Originations: $79M LMM CRE loans, $387M SBL loans (including $343M SBA 7(a)).
Book value $10.61 per share; declared $0.125/share cash dividend; repurchased 3.4M shares at avg $5.02.
Completed acquisition of United Development Funding IV, a REIT for residential developer financing.
Closed $220M 9.375% Senior Secured Notes due 2028; add-on $50M in April used to repay debt.

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