Ready Capital's Series E Preferred Stock Shares Cross 13% Yield Mark
In trading on Monday, shares of Ready Capital Corp's 6.50% Series E Cumulative Redeemable Preferred Stock (Symbol: RC.PRE) were yielding above the 13% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $12.40 on the day. This compares to an average yield of 8.09% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, RC.PRE was trading at a 49.76% discount to its liquidation preference amount, versus the average discount of 14.57% in the "Real Estate" category.
Below is a dividend history chart for RC.PRE, showing historical dividend payments on Ready Capital Corp's 6.50% Series E Cumulative Redeemable Preferred Stock:
In Monday trading, Ready Capital Corp's 6.50% Series E Cumulative Redeemable Preferred Stock (Symbol: RC.PRE) is currently off about 1.2% on the day, while the common shares (Symbol: RC) are up about 2%.
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