Ready Capital Corporation, a real estate finance company, reported its quarterly financial results for the period ended September 30, 2024. The company’s total assets increased to $2.3 billion, driven by growth in its loan portfolio and investments. Net income was $23.4 million, compared to a net loss of $12.1 million in the same period last year. The company’s net interest income increased 14% to $44.1 million, while non-interest income decreased 12% to $14.3 million. The company’s total revenue was $58.4 million, up 2% from the same period last year. The company’s net interest margin was 5.4%, and its efficiency ratio was 63.1%. The company’s cash and cash equivalents decreased to $143.1 million, and its total debt increased to $1.8 billion.
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