Core Insights - The article discusses the investment positions held by the analyst in specific companies, indicating a long position in STWD, LADR, and BXMT, which suggests a positive outlook on these stocks [1] Group 1 - The analyst expresses personal opinions on the stocks mentioned, emphasizing that these views are independent and not influenced by external compensation [1] - There is a clear distinction made regarding the lack of business relationships with the companies whose stocks are discussed, reinforcing the objectivity of the analysis [1] - The article highlights that past performance is not indicative of future results, a common disclaimer in investment analysis [1]

Core Viewpoint - Ladder Capital Corp reported its financial results for Q3 2024, indicating a positive performance for the quarter ended September 30, 2024 [1]. Financial Performance - The earnings call was held on October 24, 2024, with key participants including the company's President, CFO, and CEO [1]. - The company emphasized the importance of non-GAAP financial measures in assessing its financial performance, which will be discussed during the call [2][3]. Forward-Looking Statements - The call included forward-looking statements and projections, with a reference to the company's most recent Form 10-K for factors that could cause actual results to differ from these projections [2].

Financial Data and Key Metrics Changes - Ladder Capital Corp generated distributable earnings of $37.7 million, or $0.30 per share, resulting in a return on equity of 9.8% with adjusted leverage of 1.6 times [4][10] - The company maintained a steady book value and reported $1.9 billion in liquidity, with $1.6 billion in cash and cash equivalents, representing approximately 30% of the balance sheet [4][10] - The loan portfolio totaled $2 billion, accounting for 38% of total assets, with a weighted average yield of 9.33% [5][11] Business Line Data and Key Metrics Changes - In bridge lending, the focus is on new acquisitions and refinances for newer vintage properties, with significant increases in acquisition activity [6][7] - The securities portfolio was valued at $853 million, primarily consisting of AAA-rated securities with a weighted average yield of 6.8% [9][12] - The real estate segment generated $14.1 million in net rental income, mainly from net lease properties with long-term leases to investment-grade rated tenants [9][13] Market Data and Key Metrics Changes - The company received $492 million in loan paydowns during the third quarter, marking the second-highest quarterly payoff level in its history [7][19] - After the quarter end, an additional $64 million in loan repayments was received, indicating strong credit culture and liquidity [7][19] - The unencumbered asset pool stood at $3.7 billion, or 68% of total assets, enhancing financial flexibility [15] Company Strategy and Development Direction - Ladder plans to capitalize on market share held by regional banks and highly leveraged non-bank competitors, focusing on attractive securities and loan origination [18][19] - The company aims to achieve investment-grade status to enhance market position and attract a broader range of investors [5][14] - The management emphasizes a disciplined lending approach and strong credit culture to differentiate itself in the market [19][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the investment landscape due to increased transaction levels and reduced competition in the middle market [7][19] - The company is well-positioned for future growth with significant liquidity and a strong balance sheet, despite challenges in the commercial real estate market [4][17] - Management noted that the lending business is picking up, with more applications and signed deals expected in the coming quarters [26][32] Other Important Information - Ladder issued $500 million in unsecured corporate bonds, which contributed to a positive outlook from rating agencies [13][14] - The company repurchased $1.2 million of its common stock at a weighted average price of $11.91 per share during the third quarter [15][16] - The dividend declared was $0.23 per share, which remains well-covered by distributable earnings [16][40] Q&A Session Summary Question: What are the best opportunities in the market? - Management is focused on multifamily and industrial properties, avoiding construction loans, and looking for recapitalization opportunities [21][22] Question: What is driving the high loan repayment numbers? - The repayment is primarily driven by refinancing, especially in the apartment sector, although many loans require extensions [22][23] Question: How confident is the company in backfilling the loan book? - Management is seeing an increase in loan applications and expects a significant uptick in originations in the upcoming quarters [26][32] Question: How does the company view equity investments in the current market? - The company finds equity investments attractive but requires higher returns than typical institutional equity investors [33][34] Question: Will the company continue its stock buyback program? - Management confirmed that the buyback program will likely continue, with over $40 million remaining in authorization [35][40] Question: What is the outlook for the commercial real estate market? - Management believes that while there are challenges, the market is stabilizing, and they are optimistic about future opportunities [62][64]

Ladder Capital (LADR) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this commercial real estate mortgage origination and finance company would post earnings of $0.30 per share when it actually produced earnings of $0.31, delivering a surpr ...

IC L A D D E R CAPITAL NYSE: LADR SUPPLEMENTAL DATA QUARTER ENDED SEPTEMBER 30, 2024 NEW YORK | MIAMI | LOS ANGELES 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 statement. Word ...

Exhibit 99.1 Ladder Capital Corp Reports Results for the Quarter Ended September 30, 2024 NEW YORK, NY, October 24, 2024 – Ladder Capital Corp (NYSE: LADR) ("we," "our," "Ladder," or the "Company") today announced operating results for the quarter ended September 30, 2024. GAAP income before taxes for the three months ended September 30, 2024 was $28.5 million, and diluted earnings per share ("EPS") was $0.22. Distributable earnings was $37.7 million, or $0.30 of distributable EPS. "Ladder again generated s ...

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EschCollection Ladder Capital Corporation (NYSE:LADR) managed to cover its dividend with distributable earnings in the second quarter and the commercial real estate investment trust maintained a stable book value on a YoY basis. Ladder Capital's book value stability is particularly impressive given that the office commercial real estate market is suffering economic pressure which just forced a dividend cut on Blackstone Mortgage Trust Inc. (BXMT). Ladder Capital's 8% yield also offers passive income investo ...

Jonathan Kitchen As my regular readers know, I'm not a prototypical high-yield investor. I prefer dividend quality over dividend yield. However, from time to time, I will venture out into "high-yield waters" in an effort to select stocks that meet my select quality standards. So far, with the exception of stocks like Medical Properties (MPW), I've done well with my high-yield picks. And today I will provide you with two of my favorites, both sporting yields close to 8%. Ladder Capital (LADR): 7.9% Dividend ...