---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-032299"
form_type: "8-K"
ticker: "RC"
cik: "0001527590"
company_name: "Ready Capital Corp"
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T21:39:21.513951+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Ready Capital Q1 GAAP loss $(1.25)/share; balance sheet repositioning generates $1.4B cash

## Summary
- GAAP loss per common share of $(1.25); distributable loss per share $(1.00).
- Generated $1.4B cash from loan sales; paid down $1.1B asset-level financing and $184M corporate debt.
- Sold 48 CRE loans totaling $1.0B UPB; 60+ day core delinquencies increased to 14.8%.
- Book value $7.43 per share; ended quarter with $200M cash, $730M unencumbered assets.
- Initiated sale process for up to $1.2B of loans as last phase of repositioning plan.

## SEC filing metadata
- accession: 0001628280-26-032299
- form_type: 8-K
- ticker: RC
- cik: 0001527590
- company_name: Ready Capital Corp
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1527590/000162828026032299/0001628280-26-032299-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1527590/000162828026032299/rc-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-032299
- JSON: https://secwatch.observer/filing/0001628280-26-032299.json
- Plain text: https://secwatch.observer/filing/0001628280-26-032299.txt

## Source-grounded claims
- claim_id: 251ba3f74ce96bfad2f2154401d61688913ba926
  claim: Ready Capital Corp reported the quarter ended March 31, 2026 results: EPS $(1.25).
  evidence_excerpt: e material book value pressure of the recent quarters will begin to subside, leaving a lower-leverage platform positioned to restart growth through our core CRE debt investing and SBA 7(a) lending businesses.” Financial Metrics • GAAP loss per common share of $(1.25) • Distributable loss per common share of $(1.00) • Distributable loss per common share before realized losses of $(0.33) Balance Sheet Repositioning • Generated $1.4 billion in cash year-to-date from loan sales and portfolio runoff, paying down over $1.1 billion in asset-level financing and retiring $184 million of corporate debt • Sold 48 CRE loans totaling $1.0 billion in unpaid principal balance across four transactions (66% performing, 34% non- and sub-performing) for net proceeds after asset-level financing paydowns of $177 million • Retired the 5.75% Senior Unsecured Notes in February 2026 and the 6.20% Senior Unsecure
  evidence_url: https://www.sec.gov/Archives/edgar/data/1527590/000162828026032299/0001628280-26-032299-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.