In trading on Thursday, shares of Ready Capital Corp’s 6.25% Series B Cumulative Convertible Preferred Stock (Symbol: RC.PRC) were yielding above the 13.5% mark based on its quarterly dividend (annualized to $1.5625), with shares changing hands as low as $11.10 on the day. This compares to an average yield of 8.10% in the “Real Estate” preferred stock category, according to Preferred Stock Channel. As of last close, RC.PRC was trading at a 53.36% discount to its liquidation preference amount, versus the average discount of 14.31% in the “Real Estate” category. It should be noted that the preferred shares are convertible, with a conversion ratio of 2.3809.
The chart below shows the one year performance of RC.PRC shares, versus RC:
Below is a dividend history chart for RC.PRC, showing historical dividend payments on Ready Capital Corp’s 6.25% Series B Cumulative Convertible Preferred Stock :
In Thursday trading, Ready Capital Corp’s 6.25% Series B Cumulative Convertible Preferred Stock (Symbol: RC.PRC) is currently up about 5% on the day, while the common shares (Symbol: RC) are up about 2.1%.
