NEW YORK (AP) — NEW YORK (AP) — Ready Capital Corporation (RC) on Monday reported second-quarter net income of $248.9 million.

The New York-based company said it had net income of $1.76 per share. Earnings, adjusted for non-recurring gains, came to 35 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The real estate investment trust posted revenue of $232.9 million in the period. Its adjusted revenue was $60.4 million.

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