The second half of the year was particularly strong, with nearly $950 million in new loan originations representing our best two-quarter performance in over three years. During the fourth quarter alone, we made over $870 million in new investments, including over $400 million in securities, a $25.8 million equity investment, and more than $430 million in new loans, at a weighted average spread of 340 basis points. At year-end, our loan portfolio totaled $2.2 billion, representing 42% of total assets. Our in ...

Financial Data and Key Metrics Changes - Ladder Capital generated distributable earnings of $21.4 million or $0.17 per share in Q4 2025, with adjusted earnings of $26.4 million or $0.21 per share after accounting for a $5 million realized loan loss [3][13] - For the full year 2025, distributable earnings totaled $109.9 million, achieving a 7.1% return on equity [3][4] - The adjusted leverage ratio was 2.0 times stable book value, with liquidity maintained at $608 million, including $570 million of undrawn capacity on the unsecured revolver [4][16] Business Line Data and Key Metrics Changes - In 2025, Ladder originated $1.4 billion in new loans, the highest annual volume since 2021, with nearly $950 million in the second half of the year [5][6] - The loan portfolio totaled $2.2 billion at year-end, representing 42% of total assets, with a weighted average yield of 7.8% [7][18] - The securities portfolio reached $2.1 billion, with 99% rated investment grade and 97% rated AAA, providing a strong liquidity source [20] Market Data and Key Metrics Changes - Office loan exposure decreased from 14% to 11% of total assets by year-end, while new investments in office properties were selectively pursued [7][18] - The real estate portfolio generated $14.8 million of net operating income in Q4 and $57.3 million for the full year, supported by active leasing and asset management [9][20] Company Strategy and Development Direction - Ladder Capital aims to drive growth by increasing loan originations to enhance returns and support dividend growth while maintaining balance sheet discipline [12][22] - The company plans to capitalize on opportunities in the commercial real estate market, with a focus on stable income-producing properties [7][11] - The achievement of investment-grade status in 2025 has enhanced access to capital markets and reduced funding costs, positioning the company for future growth [4][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating potential market volatility, viewing it as an opportunity rather than a threat [30] - The company anticipates a return to growth in the loan portfolio, projecting an increase to over $6 billion by year-end 2026 [32] - Management highlighted a cautious approach to underwriting, particularly regarding bridge loans, to avoid past mistakes seen in the industry [51][60] Other Important Information - Ladder Capital issued its inaugural $500 million investment-grade unsecured bond at a fixed rate of 5.5%, which has performed well in the secondary market [9][15] - The company repurchased $10.2 million of common stock in 2025, with $90.6 million remaining under the stock repurchase program [17][16] Q&A Session Summary Question: Plans in light of potential volatility in 2026 - Management does not plan to change strategies due to volatility, viewing it as an opportunity for stable dividends based on traditional real estate [27][30] Question: Achievable ROE and loan portfolio growth - Management targets an ROE of 9-10%, with plans to grow the loan portfolio to over $6 billion by year-end [34][32] Question: Impact of net interest income decline - Management noted that net interest income may dip due to timing of loan funding but expects recovery in subsequent quarters [40][42] Question: Underwriting discipline for bridge loans - Management acknowledged past mistakes in underwriting and emphasized a cautious approach moving forward, particularly in large cities and refinancing competitor loans [51][60] Question: Competitive landscape with banks returning to lending - Management noted that while banks are becoming more competitive, they are focusing on construction loans, leaving opportunities for Ladder in refinancing and bridge loans [67][70]

Ladder Capital (NYSE:LADR) Q4 2025 Earnings call February 05, 2026 10:00 AM ET Company ParticipantsBrian Harris - CEOGabe Poggi - Managing DirectorPamela McCormack - PresidentPaul Miceli - CFOConference Call ParticipantsJade Rahmani - Managing Director and Equity Research AnalystSteve Delaney - Managing Director and Senior Equity Research AnalystTimothy D'Agostino - Equity Research AnalystOperatorGood morning, and welcome to Ladder Capital Corp's earnings call for the fourth quarter of 2025. As a reminder, ...

Ladder Capital (LADR) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.99%. A quarter ago, it was expected that this commercial real estate mortgage origination and finance company would post earnings of $0.23 per share when it actually produced earnings of $0.25, delivering a surpr ...

Ladder Capital (NYSE:LADR) Q4 2025 Earnings call February 05, 2026 10:00 AM ET Speaker3Good morning, and welcome to Ladder Capital Corp's earnings call for the fourth quarter of 2025. As a reminder, today's call is being recorded. This morning, Ladder released its financial results for the quarter and year ended December 31, 2025. Before the call begins, I'd like to call your attention to the customary safe harbor disclosure in our earnings release regarding forward-looking statements. Today's call may incl ...

INVESTMENT GRADE NYSE: LADR SUPPLEMENTAL DATA AN INVESTMENT GRADE COMMERCIAL REAL ESTATE FINANCE PLATFORM S -1 NEW YORK | MIAMI DISCLAIMERS This presentation contains forward-looking statements regarding possible or assumed future results of the business, financial condition, plans and objectives of Ladder Capital Corp and its subsidiaries (collectively, "Ladder Capital," "Ladder," "LADR," or the "Company"). Any statement concerning future events or expectations, express or implied, is a forward-looking sta ...

"2025 was a pivotal year for Ladder, with the Company achieving investment grade credit ratings, reducing our cost of capital, and expanding our access to the unsecured corporate bond market. With a highly durable capital structure in place and growing momentum in loan originations, we are well-positioned to drive earnings growth and enhance shareholder value in 2026," said Brian Harris, Ladder's Chief Executive Officer. Supplemental The Company issued a supplemental presentation detailing its fourth quarte ...

the financial results. The conference call can be accessed by dialing (877) 407-4018 domestic or (201) 689-8471 international. Individuals who dial in will be asked...## S&P Upgrades Ladder Credit Rating to 'BB+'NEW YORK--([BUSINESS WIRE])--Ladder Capital Corp ("Ladder," the "Company," "we" or "our") (NYSE: LADR), a leading commercial real estate finance REIT, announced today that S&P Global Ratings ("S&P") raised its ratings on Ladder's subsidiary issuers and unsecured notes to 'BB+' from 'BB' and also ass ...

Ladder Capital Corp to Report Fourth Quarter and Full Year 2025 ResultsJan 29, 2026 8:15 AM Eastern Standard Time# Ladder Capital Corp to Report Fourth Quarter and Full Year 2025 ResultsShare---NEW YORK--([BUSINESS WIRE])--Ladder Capital Corp (NYSE: LADR) ("we,†"Ladder,†or the "Company†) will release its fourth quarter and full year 2025 results on Thursday, February 5, 2026 before the open of markets that day. The Company will host a conference call and webcast for investors at 10:00 a.m. Eastern Time th ...

NEW YORK--(BUSINESS WIRE)--Ladder Capital Corp ("Ladder," the "Company," "we" or "our") (NYSE: LADR), a leading commercial real estate finance REIT, announced today that S&P Global Ratings ("S&P") raised its ratings on Ladder's subsidiary issuers and unsecured notes to 'BB+' from 'BB' and also assigned a 'BB+' issuer credit rating to Ladder Capital Corp. The outlook is stable. S&P cited several factors in the upgrade, including the Company's improved leverage profile, strong busines. ...