Ready Capital's Series E Preferred Stock Shares Cross 13% Yield Mark

Ready Capital Corp's 6.50% Series E preferred stock was yielding above 13% on Monday, based on its $1.625 annualized dividend, with shares trading as low as $12.40. The note highlights a high current yield and price weakness in the preferred, but provides no new company-specific catalyst or credit event.

Analysis

Ready Capital Corp's 6.50% Series E preferred stock was yielding above 13% on Monday, based on its $1.625 annualized dividend, with shares trading as low as $12.40. The note highlights a high current yield and price weakness in the preferred, but provides no new company-specific catalyst or credit event.