Ready Capital Series E Preferred Shares: Don't Be A Hero

Ready Capital is a deeply distressed CRE REIT with 37% of its portfolio in non-performing loans. RC's preferred shares (RC.PR.E) trade at 50 cents on the dollar, reflecting severe impairment risk and potential for further losses. The company's negative net interest income and high-risk loan book signal ongoing value erosion and possible suspension of preferred dividends.