Group 1 - David A. Johnson is the founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company, with over 30 years of investment experience [1] - The company engages in a diverse range of investments including stocks, bonds, options, ETFs, REITs, real estate, closed-end funds, hedge funds, and private credit [1] - David holds a Master of Science (MS) Degree in Finance with a concentration in Investment Analysis from Boston University, a Certificate in Financial Planning, and an MBA from Fordham University [1]

Group 1 - Mortgage REITs have a long history, gaining popularity in the late 1960s and early 1970s as large banks and mortgage brokers established their own [1] - The iREIT® Tracker provides comprehensive data on over 250 tickers, including quality scores, buy targets, and trim targets, aimed at enhancing investment research [1] - The introduction of the iREIT Buy Zone Ratings Tracker allows members to screen for value, enhancing investment decision-making [2] Group 2 - A promotional offer includes a 2-week free trial and a complimentary book, aimed at attracting new members to the iREIT® platform [4]

Core Insights - Ladder Capital (NYSE: LADR) reported weaker-than-expected earnings for the first fiscal quarter, indicating a decline in net interest income as the company aims to reduce its balance sheet and portfolio [1] Financial Performance - The earnings report highlighted a drop in net interest income, reflecting the company's strategic decision to shrink its balance sheet [1]

Loan Origination and Portfolio - Ladder Capital has originated $30.3 billion of commercial real estate loans since its inception in October 2008 through March 31, 2025[220]. - The company has acquired $14.6 billion of predominantly investment grade-rated securities secured by first mortgage loans on commercial real estate[220]. - As of March 31, 2025, Ladder Capital held a portfolio of 54 balance sheet first mortgage loans with an aggregate book value of $1.7 billion, with a weighted average loan-to-value ratio of 67.5%[229][230]. - The company owned 149 single tenant net leased properties with an undepreciated book value of $591.5 million, fully leased with 100% rent collection during the three months ended March 31, 2025[237]. - Ladder Capital's CMBS investments totaled $1.5 billion in 105 CUSIPs, with 99.3% rated investment grade as of March 31, 2025[243]. - The weighted average duration of the CMBS investments was 2.9 years, with 59.0% of the collateral located in the top 25 metropolitan statistical areas in the U.S.[245]. Financial Position and Debt - As of March 31, 2025, the company had $2.0 billion of senior unsecured notes outstanding, including $500.0 million due in 2031[250]. - Ladder Capital maintains a $3.7 billion pool of unencumbered assets, primarily consisting of first mortgage loans and unrestricted cash[251]. - The company held $483.1 million of U.S. Treasury securities classified as cash and cash equivalents on its consolidated balance sheet as of March 31, 2025[248]. - As of March 31, 2025, the company had $850.0 million in its Revolving Credit Facility, increased from $725 million on December 20, 2024[252]. - Total debt obligations as of March 31, 2025, amounted to $2.77 billion, with significant components including $2.01 billion in senior unsecured notes[336]. - As of March 31, 2025, the Company had $2.0 billion of senior unsecured notes outstanding, including $287.7 million of 5.25% notes due 2025, $599.5 million of 4.25% notes due 2027, $633.9 million of 4.75% notes due 2029, and $500.0 million of 7.00% notes due 2031[339]. Income and Expenses - The company reported a net interest income of $20.3 million for the three months ended March 31, 2025, a decrease of $6.9 million from the previous quarter[270]. - Interest income decreased by $13.8 million to $64.3 million, while interest expense decreased by $6.9 million to $44.0 million for the same period[270]. - Total other income decreased by $10.5 million to $30.9 million for the three months ended March 31, 2025[270]. - Real estate operating income decreased by $1.6 million during the three months ended March 31, 2025, primarily due to sales that occurred in the previous quarter[279]. - The company recorded a net income of $11.6 million for the three months ended March 31, 2025, down from $16.4 million in the same period of the previous year, reflecting a decrease of $4.9 million[293]. Cash Flow and Investments - The company funded $316.4 million in commercial mortgage loans and purchased $521.8 million in securities during the three months ended March 31, 2025, contributing to a net increase in the securities portfolio of $395.5 million[294]. - Cash and cash equivalents were $479.8 million as of March 31, 2025, down from $1.3 billion at the end of 2024[325]. - The company experienced a net decrease in cash of $812.7 million in Q1 2025, driven by cash used in operating, investing, and financing activities[327]. - Proceeds from the sale of securities provided net cash of $39.9 million for the three months ended March 31, 2025, compared to $4.8 million for the same period in 2024[363]. - The Company had $13.1 million of proceeds from sales of real estate for the three months ended March 31, 2025, with no proceeds from real estate sales in the same period of 2024[364]. Loan Loss Provisions and Allowances - The provision for loan losses for the three months ended March 31, 2025, was $(0.1) million, compared to $5.8 million for the same period in 2024[381]. - The allowance for loan losses as of March 31, 2025, was $52.8 million, unchanged from December 31, 2024[382]. - The company utilizes a current expected credit loss model (CECL) for estimating loan loss provisions, which includes both portfolio-based and asset-specific components[375]. - The company evaluates the financial capability of borrowers and the performance of collateral properties on a loan-by-loan basis, considering factors such as cash flow and liquidation value[378]. Shareholder Distributions and Stock Repurchase - The Company has authorized the repurchase of $100.0 million of its Class A common stock as of April 23, 2025, increasing the remaining authorization from $66.8 million[356]. - The company intends to distribute at least 90% of its taxable income to maintain its qualification as a REIT, with regular quarterly distributions planned[359]. - The company intends to continue declaring regular quarterly distributions to shareholders approximating the REIT's net taxable income, maintaining its REIT status[399]. Market and Economic Conditions - The company’s critical accounting estimates are subject to uncertainty due to changing macro-economic conditions[381]. - The CECL accounting estimate is sensitive to macro-economic conditions and the vintage and location of underlying assets[381].

Ladder Capital Corp (NYSE:LADR) Q1 2025 Earnings Conference Call April 24, 2025 10:00 AM ET Company Participants Brian Harris – Founder and Chief Executive Officer Pamela McCormack – Founder and President Paul Miceli – Chief Financial Officer Conference Call Participants Randy Binner – B. Riley Jade Rahmani – KBW Steven DeLaney – Citizens JMP Securities John Nicodemus – BTIG Operator Good morning and welcome to Ladder Capital Corp's Earnings Call for the First Quarter of 2025. As a reminder, today's call is ...

NYSE: LADR SUPPLEMENTAL DATA QUARTER ENDED MARCH 31, 2025 NEW YORK | MIAMI This presentation is strictly for informational purposes. It is not intended to be relied upon as investment advice and is not, and should not be assumed to be, complete. The contents herein are not to be construed as legal, business or tax advice, and each recipient should consult its own attorney, business advisor and tax advisor as to legal, business and tax advice. Certain information contained herein is based on, or derived from ...

Over the last four quarters, the company has surpassed consensus EPS estimates three times. Ladder Capital, which belongs to the Zacks REIT and Equity Trust industry, posted revenues of $51.2 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 10.64%. This compares to year- ago revenues of $69 million. The company has topped consensus revenue estimates three times over the last four quarters. This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was ...

Ladder Capital (LADR) Q1 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Pamela McCormack - PresidentPaul Miceli - Chief Financial OfficerBrian Harris - Founder, CEO & DirectorRandy Binner - Managing DirectorJade Rahmani - Managing DirectorSteve Delaney - Director of MortgageJohn Nickodemus - Vice President, Equity Research Operator Good morning, and welcome to Ladder Capital Corp. Earnings Call for the First Quarter of twenty twenty five. As a reminder, today's call is being recorded. Th ...

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The stock market is viewed as a viable avenue for retail investors to achieve financial freedom, with opportunities available in both bull and bear markets [2] - The article emphasizes a defensive investment strategy with a medium- to long-term horizon [2] Group 2 - The article does not provide specific investment advice or recommendations, encouraging readers to conduct their own due diligence [4][5] - There is a disclosure regarding the author's beneficial long position in LADR shares, indicating a personal investment interest [3]

Group 1 - The article discusses the investment positions held by analysts in LADR and STWD, indicating a beneficial long position in these shares [1] - It emphasizes that the opinions expressed are personal and not influenced by any compensation from the companies mentioned [1] - The article clarifies that there is no business relationship between the author and the companies whose stocks are discussed [1] Group 2 - The article notes that past performance of investments does not guarantee future results, highlighting the inherent uncertainty in investment decisions [2] - It states that no specific recommendations or advice are provided regarding the suitability of investments for individual investors [2] - The article mentions that the views expressed may not represent the overall stance of Seeking Alpha, indicating a diversity of opinions among analysts [2]