Ready Capital's Series E Preferred Stock Yield Pushes Past 8.5%

In trading on Friday, shares of Ready Capital Corp's 6.50% Series E Cumulative Redeemable Preferred Stock (Symbol: RC.PRE) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $18.98 on the day. This compares to an average yield of 7.96% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, RC.PRE was trading at a 23.48% discount to its liquidation preference amount, versus the average discount of 14.21% in the "Real Estate" category.

The chart below shows the one year performance of RC.PRE shares, versus RC:

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 Friday trading, Ready Capital Corp's 6.50% Series E Cumulative Redeemable Preferred Stock (Symbol: RC.PRE) is currently trading flat on the day, while the common shares (Symbol: RC) are up about 0.4%.

Also see:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.