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Ready Capital: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Ready Capital Corporation (RC) on Wednesday reported third-quarter profit of $34.6 million.

On a per-share basis, the New York-based company said it had net income of 63 cents. Earnings, adjusted for non-recurring gains, came to 57 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The real estate investment trust posted revenue of $61.1 million in the period. Its adjusted revenue was $17.3 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $22.6 million.

Ready Capital shares have declined 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.22, a decrease of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RC at https://www.zacks.com/ap/RC