NEW YORK (AP) _ Ready Capital Corporation (RC) on Wednesday reported second-quarter profit of $11 million.
The New York-based company said it had profit of 25 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 37 cents per share.
The real estate investment trust posted revenue of $57 million in the period. Its adjusted revenue was $21.3 million.
Ready Capital shares have risen 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.93, a drop of 9% in the last 12 months.