Ladder Capital (NYSE:LADR) Posts Earnings Results, Hits Estimates

Key Points

• Distributable Earnings were $28 million ($0.22/share), meeting EPS estimates, and management says distributable earnings could exceed the dividend as soon as next quarter.
• The loan book has expanded rapidly—nearly 60% growth since March 31, 2025—with balance-sheet loans now ~46% of assets and roughly $900 million deployed in Q1 (>$620M of new loans).
• Liquidity and funding strengthened materially with $675 million of new unsecured commitments, a revolver expanded to $1.25 billion, a $275 million delayed‑draw term loan, an S&P upgrade to BB+, and roughly $1.1 billion of same‑day liquidity.

Ladder Capital (NYSE:LADR - Get Free Report) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22, FiscalAI reports. The company had revenue of $51.88 million for the quarter, compared to analyst estimates of $57.03 million. Ladder Capital had a return on equity of 5.89% and a net margin of 16.44%.During the same period in the previous year, the company posted $0.20 earnings per share.

Here are the key takeaways from Ladder Capital's conference call:

• Distributable Earnings of $28 million ($0.22 per share) were reported and management expects Distributable Earnings to exceed the dividend as soon as next quarter.
• The company has rapidly expanded its loan book—nearly 60% growth since March 31, 2025—with balance‑sheet loans now ~46% of assets and ~ $900 million deployed in Q1 (>$620M in new loans), with strong early Q2 momentum.
• Liquidity and funding improved materially—$675 million of new unsecured capital commitments, revolver expanded to $1.25B, a $275M delayed‑draw term loan (140 bps over SOFR), an S&P upgrade to BB+, and roughly $1.1 billion of same‑day liquidity.
• Credit actions included resolution of three foreclosed assets (aggregate carrying values ~$80 million) and one remaining non‑accrual of ~$51M; management maintains a $47 million CECL reserve and says it is sufficient.
• Management says macro volatility and geopolitical uncertainty are creating selective opportunities (including in office), but remains cautious and expects broader conduit/refinance market normalization to be gradual (potentially into 2027).

Ladder Capital Price Performance

NYSE LADR opened at $10.45 on Friday. Ladder Capital has a one year low of $9.61 and a one year high of $11.92. The stock has a 50-day moving average of $10.15 and a 200 day moving average of $10.63. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 0.85 and a beta of 1.00. The company has a debt-to-equity ratio of 2.37, a quick ratio of 29.65 and a current ratio of 29.65.

Ladder Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.92 annualized dividend and a dividend yield of 8.8%. Ladder Capital's dividend payout ratio (DPR) is 180.39%.

Hedge Funds Weigh In On Ladder Capital

Several hedge funds and other institutional investors have recently bought and sold shares of LADR. AQR Capital Management LLC increased its holdings in Ladder Capital by 111.7% during the first quarter. AQR Capital Management LLC now owns 22,189 shares of the real estate investment trust's stock valued at $253,000 after buying an additional 11,709 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Ladder Capital during the 1st quarter valued at $209,000. Jane Street Group LLC grew its position in shares of Ladder Capital by 997.0% during the 1st quarter. Jane Street Group LLC now owns 180,230 shares of the real estate investment trust's stock valued at $2,056,000 after acquiring an additional 163,800 shares during the period. Norges Bank purchased a new stake in shares of Ladder Capital in the 2nd quarter worth $1,133,000. Finally, Marshall Wace LLP purchased a new stake in shares of Ladder Capital in the 2nd quarter worth $183,000. Institutional investors own 62.25% of the company's stock.

Analyst Upgrades and Downgrades

LADR has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on Ladder Capital from $11.50 to $11.00 and set an "outperform" rating for the company in a report on Wednesday, April 8th. Susquehanna set a $13.00 target price on shares of Ladder Capital in a report on Wednesday, January 21st. Capital One Financial set a $13.00 target price on shares of Ladder Capital in a research report on Wednesday, January 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Ladder Capital in a research note on Friday, March 27th. Finally, BTIG Research reissued a "buy" rating and set a $13.50 price target on shares of Ladder Capital in a research report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.75.

Ladder Capital Company Profile

Ladder Capital Corp NYSE: LADR is a publicly traded commercial real estate finance company structured as a real estate investment trust. The firm specializes in originating, acquiring and managing a diversified portfolio of commercial mortgage loans, subordinate financings such as mezzanine loans and B-notes, and equity investments. In addition to direct lending activities, Ladder Capital invests in and manages commercial mortgage‐backed securities (CMBS) and commercial real estate collateralized loan obligations (CRE CLOs), providing financing across a range of property types including office, retail, multifamily, industrial and hospitality assets.

Since its inception in 2008, Ladder Capital has developed a platform that supports both balance-sheet lending and structured securitization.