NEW YORK (AP) — NEW YORK (AP) — Ready Capital Corporation (RC) on Tuesday reported third-quarter net income of $45.7 million.

On a per-share basis, the New York-based company said it had net income of 25 cents. Earnings, adjusted for non-recurring costs, came to 28 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The real estate investment trust posted revenue of $250.6 million in the period. Its adjusted revenue was $59 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $76.9 million.

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