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Ladder Capital
(NYSE:LADR)
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Rating:70Outperform
Price Target:
$10.00
▲(1.42% Upside)
Action:Upgraded
Date:10/27/26
The score is driven primarily by solid financial profitability but constrained by high leverage and variable cash-flow dynamics. Valuation is supportive with a moderate P/E and high dividend yield, and the latest earnings call was upbeat with constructive guidance, while technicals indicate improving near-term momentum but a weaker longer-term trend.
Positive Factors
Consistent Profitability
Ladder’s consistently high margins indicate that its commercial real estate finance and investment platform is generating meaningful earnings across market conditions. Although revenue has fluctuated, this profitability provides an important base for supporting operations, capital deployment, and shareholder distributions over the next several quarters.
Negative Factors
Elevated Leverage
Elevated and rising leverage reduces balance-sheet flexibility for a business exposed to commercial real estate credit and funding conditions. More debt can magnify the effect of asset-value declines, credit losses, or refinancing pressure, while limiting the capital available for new investments and shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Profitability
Ladder’s consistently high margins indicate that its commercial real estate finance and investment platform is generating meaningful earnings across market conditions. Although revenue has fluctuated, this profitability provides an important base for supporting operations, capital deployment, and shareholder distributions over the next several quarters.
Read all positive factors
Ladder Capital (LADR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.18B
Dividend Yield9.83%
Average Volume (3M)1.89M
Price to Earnings (P/E)11.7
Beta (1Y)0.35
Revenue Growth2.43%
EPS Growth25.34%
CountryUS
Employees60
SectorReal Estate
Sector Strength53
IndustryREIT - Mortgage
Share Statistics
EPS (TTM)0.80
Shares Outstanding125,992,004
10 Day Avg. Volume2,358,269
30 Day Avg. Volume1,890,742
Financial Highlights & Ratios
PEG Ratio-0.53
Price to Book (P/B)0.93
Price to Sales (P/S)3.52
P/FCF Ratio15.85
Enterprise Value/Market Cap4.58
Enterprise Value/Revenue14.09
Enterprise Value/Gross Profit22.82
Enterprise Value/Ebitda21.14
Forecast
1Y Price Target
$11.44Price Target Upside16.00% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)1.05
Revenue Forecast (FY)$274.53M
Ladder Capital Business Overview & Revenue Model
Company Description
Ladder Capital Corp engages in three core business activities. Its Lending division originates first mortgage loans, comprising "conduit" loans backed by stable, revenue-generating commercial real estate, and "balance sheet" loans for commercial p...
How the Company Makes Money
Ladder Capital primarily makes money from the net interest income and returns generated by its commercial real estate investment portfolio.
Key revenue streams include:
1) Interest income from CRE loans and debt investments: A major source of ear...
Ladder Capital Earnings Call Summary
Earnings Call Date:Oct 16, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 11, 2027
Earnings Call Sentiment Positive
The call was strongly positive overall. Ladder reported solid earnings, higher book value, substantial portfolio growth, strong liquidity, conservative leverage, and meaningful real estate gains. Management emphasized that the company's newer loan portfolio, floating-rate assets, fixed-rate liabilities, and diversified investment platform position it well for higher rates. The main challenges were higher rates slowing originations and refinancing, market volatility, declining multifamily rents, and a limited number of credit and legacy asset losses, but management characterized credit as stable and reserves as adequate.Positive Updates
Strong Third-Quarter Earnings
Ladder generated distributable earnings of $44.7 million, or $0.35 per share. Excluding a realized loan loss that had been previously reserved for, third-quarter earnings were $0.38 per share.
Negative Updates
Higher Rates Slowed Lending and Refinancing Activity
The sharp rise in global interest rates is expected to put the brakes on refinancing activity and has slowed loan origination pipelines. Acquisitions have fallen through, contracts have not been completed, and borrowers have sought lower purchase prices because of higher borrowing costs.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Third-Quarter Earnings
Ladder generated distributable earnings of $44.7 million, or $0.35 per share. Excluding a realized loan loss that had been previously reserved for, third-quarter earnings were $0.38 per share.
Read all positive updates
Company Guidance
Management said its plan for the coming quarters is unchanged: grow the loan portfolio, deploy capital where it sees the best risk-adjusted returns, and realize gains across its businesses, which it believes will drive higher earnings and support the dividend; payoff is expected to remain light in coming quarters, over $100 million of loans from the earlier era are expected to pay off before year-end, and the final office loan from the 2022 group is expected to pay off in full before year-end. Management hopes to continue migrating capital out of securities and into higher-yielding loans, with unlevered securities totaling over $1 billion serving as a source of liquidity for higher-yielding loan origination in the quarters ahead, while levered AAA CLO securities are reaching into the 14%-15% range and other securities yield about 5.5%; it expects to continue picking up stock each quarter as long as it is anywhere near where it is now, will keep buying real estate when it has the right price, and expects a strong fourth quarter, to finish this year in very good shape, and to invest its remaining capital into the higher rate market for earnings benefits in the quarters ahead.Ladder Capital Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 383.55M | 392.30M | 511.22M | 525.09M | 543.71M | 358.21M |
| Gross Profit | 236.89M | 281.54M | 394.88M | 415.23M | 429.00M | 246.87M |
| EBITDA | 255.74M | 274.10M | 364.76M | 377.96M | 396.73M | 276.68M |
| Net Income | 98.92M | 64.18M | 108.25M | 101.13M | 142.22M | 56.52M |
Balance Sheet | ||||||
| Total Assets | 6.04B | 5.15B | 4.85B | 5.51B | 5.95B | 5.85B |
| Cash, Cash Equivalents and Short-Term Investments | 41.78M | 321.37M | 1.32B | 1.02B | 611.12M | 854.70M |
| Total Debt | 4.35B | 3.51B | 3.15B | 3.80B | 4.25B | 4.22B |
| Total Liabilities | 4.58B | 3.67B | 3.31B | 3.98B | 4.42B | 4.34B |
| Stockholders Equity | 1.46B | 1.48B | 1.54B | 1.53B | 1.53B | 1.51B |
Cash Flow | ||||||
| Free Cash Flow | 87.66M | 87.02M | 133.92M | 180.60M | 106.71M | 79.74M |
| Operating Cash Flow | 87.68M | 87.02M | 133.92M | 180.60M | 106.71M | 79.74M |
| Investing Cash Flow | -1.27B | -1.61B | 932.76M | 793.50M | 81.59M | -651.46M |
| Financing Cash Flow | 828.36M | 227.04M | -796.59M | -557.77M | -150.24M | -91.02M |
Ladder Capital Technical Analysis
Positive
9.86
Price Trends
9.17
Positive
9.39
Negative
9.54
Negative
Market Momentum
0.08
Negative
60.65
Neutral
82.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LADR, the sentiment is Positive. The current price of 9.86 is above the 20-day moving average (MA) of 8.95, above the 50-day MA of 9.17, and above the 200-day MA of 9.54, indicating a neutral trend. The MACD of 0.08 indicates Negative momentum. The RSI at 60.65 is Neutral, neither overbought nor oversold. The STOCH value of 82.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LADR.
Ladder Capital Risk Analysis
Ladder Capital disclosed 72 risk factors in its most recent earnings report. Ladder Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ladder Capital Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.18B | 11.69 | 6.79% | 9.83% | 2.43% | 25.34% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
56 Neutral | $4.59B | 18.47 | 3.40% | 15.48% | 10.66% | -45.26% | |
50 Neutral | $440.11M | 27.15 | 2.12% | 18.13% | 2.14% | ― | |
48 Neutral | $189.75M | -45.42 | -0.88% | 17.54% | 28.95% | 76.08% | |
47 Neutral | $829.11M | 8.18 | 7.78% | 129.16% | -63.13% | ― | |
46 Neutral | $1.83B | -4.85 | -11.53% | 15.73% | -3.93% | ― |
* Real Estate Sector Average
LADR
Ladder Capital
9.36
-0.30
-3.11%
ARI
Apollo Real Estate
6.45
0.33
5.32%
ACRE
Ares Commercial
3.42
-0.44
-11.40%
BXMT
Blackstone Mortgage
10.87
-5.62
-34.08%
STWD
Starwood Property
12.40
-3.72
-23.08%
BRSP
BrightSpire Capital
3.53
-1.05
-22.89%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.