NEW YORK (AP) — NEW YORK (AP) — Ready Capital Corporation (RC) on Monday reported a loss of $316.1 million in its fourth quarter.
The New York-based company said it had a loss of $1.90 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 23 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The real estate investment trust posted revenue of $204 million in the period. Its adjusted revenue was $50.1 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $55.4 million.
For the year, the company reported a loss of $435.8 million, or $2.63 per share. Revenue was reported as $200.5 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RC at https://www.zacks.com/ap/RC
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