Attractive Short-Dated Bond, 8.5% YTM, From Ready Capital
RCC is a short-term, exchange-listed baby bond from Ready Capital, maturing in February 2026, offering an 8.5% yield to maturity. The bond's very short duration minimizes market risk, making solvency of Ready Capital the primary concern for investors. Ready Capital's latest financials show stabilized book value and a CRE portfolio focused on multi-family properties, with manageable delinquency levels.
Short Duration Debt - The Way We Choose To Invest In Ready Capital
Ready Capital's short-duration exchange-traded senior notes, RCC and RCB, offer attractive yields of 8.6% and 9.6%, respectively, for the risk they carry. The company has faced challenges post-COVID, with a total return close to zero over the past decade and a recent dividend cut of 17%. Ready Capital's capital structure shows a relatively high debt-to-equity ratio, with recent debt increases and significant interest expenses impacting financial stability. Monitoring of performance is required.
Ready Capital Corporation (RC) Q2 2024 Earnings Call Transcript
Ready Capital Corporation (NYSE:RC ) Q2 2024 Earnings Conference Call August 8, 2024 8:30 AM ET Company Participants Andrew Ahlborn - Chief Financial Office Tom Capasse - Chief Executive Officer Adam Zausmer - Chief Credit Officer Conference Call Participants Crispin Love - Piper Sandler Douglas Harter - UBS Stephen Laws - Raymond James Jason Sabshon - KBW Christopher Nolan - Landenburg Thalmann Operator Greetings, and welcome to Ready Capital's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
