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Ladder Capital Corp
NYSE: LADR Real Estate IT 🔎 Screen
🏹 Trader: 🎯 Near 52W High View all →
$1.2B
Market Cap
21.5
P/E
3.50
PEG
1.3%
ROCE
4.2%
ROE
2.38
D/E
31.1%
OPM
-10.4%
% from 52W High
32
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for LADR including FX impact
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📈 Price History
Ratio Health
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About

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. It operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates and acquires balance sheet loans that provide interim financing to borrowers seeking short-term capital for the acquisition or transition of commercial real estate; originates conduit loans, which are first mortgage loans on commercial real estate properties for sale in commercial mortgage-backed securities securitizations; and invests in note purchase financings, subordinated debt, mezzanine debt, and other structured finance products related to commercial real estate. Its Securities segment invests in CMBS, U.S. Agency securities, corporate bonds, equity securities, and U.S. Treasury securities that are not classified as cash and cash equivalents. The Real Estate segment engages in net leased properties, other diversified real estate, and investments in unconsolidated ventures. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Ladder Capital Corp was founded in 2008 and is headquartered in New York, New York.

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📈 Growth Pattern
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⭐ Superinvestors Holding LADR
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 71.9K $703K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED Ladder Capital deploys $900M in Q1 2026, Distributable Earnings $28M
Revenue & Profitability
Distributable Earnings were $28 million or $0.22 per share. Undepreciated book value per share was $13.42, net of a $0.37 per share CECL reserve. The company declared a $0.23 per share dividend and repurchased $13.4 million in common stock. Net interest income is rising and credit quality remains stable with no new non-accrual loans added in the quarter.
Outlook
Management expects continued portfolio growth and earnings expansion. Loan payoffs are normalizing, supporting net growth, and the securities portfolio will shrink as loans are originated. Geopolitical volatility creates both caution and selective opportunities, but the company is 'firmly on offense' and expects distributable earnings to exceed the dividend next quarter. The refinance market is messy with over-leveraged assets, but acquisition-based lending is attractive.
Growth Drivers
Key growth levers include strong loan origination of $1.9 billion over the last 10 months and the redeployment of securities into higher-yielding loans. The company focuses on middle-market multifamily and industrial loans, with selective office investments at wider spreads. New unsecured capital commitments of $675 million and undrawn capacity of over $1 billion provide liquidity to fund growth. Leverage is moving toward 3x.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Not discussed in detail. However, the company highlights that loan spreads average 300 basis points, the securities portfolio yields 5.3%, and redeployment into loans should increase overall yield toward 7%. Leverage is modest at 2.3x, and management anticipates returns to strengthen as the loan portfolio scales.
Key Risks
Key risks include macro market volatility, geopolitical uncertainty (Middle East conflict, energy supply disruption), and the shape of the yield curve affecting the conduit business. The refinance market is messy with over-leveraged 2021-2022 vintage loans. High VIX levels disrupt deal flow. Office sector presents both danger and opportunity, while Class B/C properties face headwinds from immigration enforcement and lower-income demographics.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-23
Q2 2026 featured strong loan origination, distributable earnings of $30.8 million, and a 75% year-over-year loan portfolio growth. The company continues to rotate capital into higher-yielding loans, maintain a stable book value, and repurchase shares at a discount.
Q1 2026 Q1 2026 2026-04-23
Distributable earnings rose to $28 million in Q1 2026, driven by strong loan origination and portfolio growth, with leverage at 2.3x and robust liquidity. Management expects distributable earnings to exceed the dividend next quarter and sees continued growth as loan originations accelerate.
Q4 2025 Q4 2025 2026-02-05
Achieved investment-grade status, driving lower funding costs and strong liquidity. Loan originations and asset growth accelerated in late 2025, with a focus on disciplined underwriting and risk management. Outlook for 2026 targets higher loan growth, stable dividends, and a 9–10% ROE.
Q3 2025 Q3 2025 2025-10-23
Q3 2025 saw distributable earnings of $32.1M, record loan originations, and a successful $500M investment-grade bond issuance. Loan and securities portfolios each reached $1.9B, with strong liquidity and reduced office exposure. Loan growth and margin expansion are expected to continue.
Q2 2025 Q2 2025 2025-07-24
Achieved investment-grade status, issued a $500M unsecured bond at 5.5%, and reported Q2 distributable earnings of $30.9M with a 7.7% ROE. Portfolio growth is expected in the second half of 2025, supported by strong liquidity and a shift toward unsecured funding.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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