LADR
Ladder Capital Corp11.21
-0.12-1.06%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Loan growth targets; ROE 9-10% eyed
Q&A delivered fresh growth targets missing from prepared remarks: loan portfolio topping $6B by 2026 year-end, ROE hitting 9-10%. Brian Harris chalked Q4 net interest income dip to late-December fundings and high-rate payoffs, forecasting Q1 rebound as originations smooth out. He detailed underwriting scars—avoiding competitor bridge refinancings and urban crime pockets—while eyeing selective real estate equity builds. Banks chase construction; Ladder targets $80-100M orphans. No volatility pivots. Underwriting stays wary. Investors track loan ramp speed.
Key Stats
Market Cap
1.43BP/E (TTM)
17.79Basic EPS (TTM)
0.63Dividend Yield
0.08%Recent Filings
10-K
FY2025 results
Financial results not disclosed in the 10-K filing. Ladder's FY2025 ended December 31, 2025. Exhibits detail restricted stock awards under the 2023 Omnibus Incentive Plan, with vesting tied to time and ROE targets of 6%. No quarterly or annual metrics provided. Liquidity posture undisclosed. Change in control accelerates vesting. Board changes risk momentum.
8-K
Q4 distributable EPS $0.17
Ladder Capital reported Q4 2025 GAAP income before taxes of $15.5M ($0.13 diluted EPS) and distributable earnings of $21.4M ($0.17 distributable EPS), after a $5M charge-off of credit loss allowance. Full-year distributable EPS hit $0.84, down from prior year, yet investment-grade ratings slashed borrowing costs. Earnings dipped. CEO eyes 2026 growth via loan originations.
10-Q
Q3 FY2025 results
Ladder Capital posted Q3 net income of $19.2M, down 31% y/y from $27.6M but up 12% q/q (derived). Net interest income fell 28% y/y to $27.8M on lower loan repayments, yet securities portfolio swelled to $1.9B, driving gains. Diluted EPS held at $0.15 on 126.1M shares, matching shares outstanding. Debt dropped to $3.0B from $3.1B YTD, with $2.2B senior notes and $49M cash bolstering liquidity. Foreclosures added $65M office assets. Non-GAAP metrics not disclosed in the 10-Q. Non-accrual loans hit $123M.
8-K
Ladder Q3 earnings surge
Ladder Capital Corp reported Q3 2025 results on October 23, featuring GAAP net income of $19.2 million and distributable earnings of $32.1 million, or $0.25 per share, up from Q2's $0.23. The quarter marked the highest loan origination volume in over three years, alongside a successful $500 million investment-grade bond issuance that bolsters liquidity. Yet, total assets dipped to $4.7 billion from year-end. This positions Ladder to seize market opportunities amid cycles.
10-Q
Q2 FY2025 results
Ladder Capital's Q2 FY2025 results showed net interest income dipping to $21.5M from $34.3M y/y, yet total other income held steady at $34.7M, driving net income to $17.1M versus $32.1M last year—diluted EPS fell to $0.14 from $0.26, reconciled to 126.2M shares. Revenue drivers included steady real estate operating income of $25.8M amid portfolio sales, while securities investments swelled to $1.97B, boosting yields to 5.9% (derived). Liquidity strengthened with $135M cash and $1.5B unencumbered loans, total debt at $2.78B (down q/q from CLO redemptions), and $850M revolver undrawn. Foreclosure added $42.4M office assets in April 2025 at fair value, no goodwill noted. Competition in commercial real estate lending remains a key risk.
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