v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Series C Preferred Stock
Series E Preferred Stock
Total Ready Capital Corporation Equity
Total Ready Capital Corporation Equity
Series C Preferred Stock
Total Ready Capital Corporation Equity
Series E Preferred Stock
Preferred Stock
Common Stock
Additional Paid-In Capital
Retained Earnings (Deficit)
Retained Earnings (Deficit)
Series C Preferred Stock
Retained Earnings (Deficit)
Series E Preferred Stock
Accumulated Other Comprehensive Income (Loss)
Non-Controlling Interest
Beginning balance (in shares) at Dec. 31, 2024             4,600,000              
Beginning balance at Dec. 31, 2024 $ 1,935,742     $ 1,838,045     $ 111,378 $ 17 $ 2,250,291 $ (505,089)     $ (18,552) $ 97,697
Beginning balance (in shares) at Dec. 31, 2024               162,792,372            
Increase (Decrease) in Stockholders' Equity                            
Dividends declared, common stock (43,451)     (43,451)           (43,451)        
Dividends declared, OP units (186)                         (186)
Dividends declared, preferred share   $ (262) $ (3,736)   $ (262) $ (3,736)         $ (262) $ (3,736)    
Distributions, net (187)                         (187)
Shares issued pursuant to merger transactions (in shares)               12,766,819            
Shares issued pursuant to merger transactions 64,600     64,600         64,600          
Stock-based compensation (in shares)               737,090            
Stock-based compensation 6,678     6,678         6,678          
Conversion of OP units into common stock (in shares)               282,614            
Conversion of OP units into common stock 0     1,197         1,197         (1,197)
Share repurchases (in shares)               (12,252,508)            
Share repurchases (57,099)     (57,099)         (57,099)          
Reallocation of non-controlling interest 0     1,829         1,873       (44) (1,829)
Net income (loss) 28,288     24,014           24,014       4,274
Other comprehensive income (loss) (4,725)     (4,697)                 (4,697) (28)
Ending balance (in shares) at Jun. 30, 2025             4,600,000              
Ending balance at Jun. 30, 2025 1,925,662     1,827,118     $ 111,378 $ 17 2,267,540 (528,524)     (23,293) 98,544
Ending balance (in shares) at Jun. 30, 2025               164,326,387            
Beginning balance (in shares) at Mar. 31, 2025             4,600,000              
Beginning balance at Mar. 31, 2025 2,041,191     1,941,547     $ 111,378 $ 17 2,302,101 (450,276)     (21,673) 99,644
Beginning balance (in shares) at Mar. 31, 2025               172,507,227            
Increase (Decrease) in Stockholders' Equity                            
Dividends declared, common stock (20,758)     (20,758)           (20,758)        
Dividends declared, OP units (75)                         (75)
Dividends declared, preferred share   (131) (1,868)   (131) (1,868)         (131) (1,868)    
Distributions, net (87)                         (87)
Stock-based compensation (in shares)               55,010            
Stock-based compensation 440     440         440          
Conversion of OP units into common stock (in shares)               282,614            
Conversion of OP units into common stock 0     1,197         1,197         (1,197)
Share repurchases (in shares)               (8,518,464)            
Share repurchases (37,779)     (37,779)         (37,779)          
Reallocation of non-controlling interest 0     1,548         1,581       (33) (1,548)
Net income (loss) (53,677)     (55,491)           (55,491)       1,814
Other comprehensive income (loss) (1,594)     (1,587)                 (1,587) (7)
Ending balance (in shares) at Jun. 30, 2025             4,600,000              
Ending balance at Jun. 30, 2025 1,925,662     1,827,118     $ 111,378 $ 17 2,267,540 (528,524)     (23,293) 98,544
Ending balance (in shares) at Jun. 30, 2025               164,326,387            
Beginning balance (in shares) at Dec. 31, 2025             4,600,000              
Beginning balance at Dec. 31, 2025 $ 1,643,267     1,544,032     $ 111,378 $ 17 2,264,355 (807,522)     (24,196) 99,235
Beginning balance (in shares) at Dec. 31, 2025 163,010,012             163,010,012            
Increase (Decrease) in Stockholders' Equity                            
Dividends declared, common stock $ (3,355)     (3,355)           (3,355)        
Dividends declared, OP units (6)                         (6)
Dividends declared, preferred share   $ (262) $ (3,736)   (262) (3,736)         (262) (3,736)    
Stock-based compensation (in shares)               2,515,119            
Stock-based compensation 3,523     3,523         3,523          
Share repurchases (in shares)               (315,615)            
Share repurchases (539)     (539)         (539)          
Reallocation of non-controlling interest 0     54         55       (1) (54)
Net income (loss) (299,770)     (303,260)           (303,260)       3,490
Other comprehensive income (loss) 2,754     2,749                 2,749 5
Ending balance (in shares) at Jun. 30, 2026   335 4,600,000       4,600,000              
Ending balance at Jun. 30, 2026 $ 1,341,876     1,239,206     $ 111,378 $ 17 2,267,394 (1,118,135)     (21,448) 102,670
Ending balance (in shares) at Jun. 30, 2026 165,209,516             165,209,516            
Beginning balance (in shares) at Mar. 31, 2026             4,600,000              
Beginning balance at Mar. 31, 2026 $ 1,440,339     1,339,526     $ 111,378 $ 17 2,265,534 (1,012,927)     (24,476) 100,813
Beginning balance (in shares) at Mar. 31, 2026               165,255,559            
Increase (Decrease) in Stockholders' Equity                            
Dividends declared, common stock (1,678)     (1,678)           (1,678)        
Dividends declared, OP units (3)                         (3)
Dividends declared, preferred share   $ (131) $ (1,868)   $ (131) $ (1,868)         $ (131) $ (1,868)    
Stock-based compensation (in shares)               54,800            
Stock-based compensation 2,032     2,032         2,032          
Share repurchases (in shares)               (100,843)            
Share repurchases (165)     (165)         (165)          
Reallocation of non-controlling interest 0     (6)         (7)       1 6
Net income (loss) (99,683)     (101,531)           (101,531)       1,848
Other comprehensive income (loss) 3,033     3,027                 3,027 6
Ending balance (in shares) at Jun. 30, 2026   335 4,600,000       4,600,000              
Ending balance at Jun. 30, 2026 $ 1,341,876     $ 1,239,206     $ 111,378 $ 17 $ 2,267,394 $ (1,118,135)     $ (21,448) $ 102,670
Ending balance (in shares) at Jun. 30, 2026 165,209,516             165,209,516