Financial Data and Key Metrics Changes - In Q1 2025, the company generated distributable earnings of $25.5 million or $0.20 per share, achieving a return on equity of 6.6% with adjusted leverage of 1.4 times [4][14] - As of March 31, 2025, the company had $1.3 billion in liquidity, with 83% of its asset base unencumbered and 72% of its debt comprised of unsecured corporate bonds [6][7] - The carrying value of the securities portfolio increased by 37% from year-end to $1.5 billion, with a weighted average yield of 5.67% [19] Business Line Data and Key Metrics Changes - The loan portfolio stood at $1.7 billion, representing 38% of total assets, with a weighted average yield of 8.7% [8] - New loan originations in Q1 totaled $329 million, with 74% backed by multifamily or industrial assets [9][24] - The real estate portfolio generated $12.2 million of net operating income during the first quarter, primarily consisting of net leased properties [11][20] Market Data and Key Metrics Changes - The company noted that the current macroeconomic environment is characterized by persistent interest rate volatility and geopolitical uncertainty, impacting commercial real estate demand [12][13] - The company expects to see more attractive lending opportunities as acquisitions become more common and newly built multifamily units come off construction loans [22][23] Company Strategy and Development Direction - The company is focused on redeploying liquidity generated from loan payoffs into new loans at lower reset basis, reflecting current market conditions [5] - The strategy includes a shift towards unsecured debt as the primary funding source, aiming for potential investment-grade ratings [8][17] - The company plans to maintain a disciplined approach to capital deployment, prioritizing higher-yielding loans over securities [25][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market volatility due to substantial liquidity and a robust balance sheet [6][13] - The company anticipates an increase in loan originations for the remainder of 2025, despite potential slowdowns in certain areas [39][44] - Management highlighted the importance of being well-capitalized to capitalize on opportunities that arise from market fluctuations [13][81] Other Important Information - The company repurchased $20 million in principal value of unsecured bonds during the first quarter and declared a $0.23 per share dividend [16][18] - The CECL reserve remained at $52 million, which management believes is sufficient to cover potential losses [10][19] Q&A Session Summary Question: What was the origination activity in the quarter? - The company noted that the blended spread was wide, with opportunities arising from market volatility and special situations [30][31] Question: Do you expect originations to maintain or exceed the pace generated in the first quarter? - Management expects originations to exceed the first quarter pace [39] Question: How are you thinking about the net lease portfolio longer term? - The company is open to selling properties but is not actively managing to sell; they are prepared to hold assets [45][49] Question: What is the outlook for the ten-year treasury yield? - Management anticipates the ten-year yield will rise due to the U.S. deficit, projecting it could reach around 4.75% in six months [57] Question: How do you protect against interest rate risk when adding CMBS? - The company hedges with swaps and focuses on floating rate instruments to mitigate volatility [63]

Exhibit 99.1 Ladder Capital Corp Reports Results for the Quarter Ended March 31, 2025 NEW YORK, NY, April 24, 2025 – Ladder Capital Corp (NYSE: LADR) ("we," "our," "Ladder," or the "Company") today announced operating results for the quarter ended March 31, 2025. GAAP income before taxes for the three months ended March 31, 2025 was $10.7 million, and diluted earnings per share ("EPS") was $0.09. Distributable earnings was $25.5 million, or $0.20 of distributable EPS. "We are pleased with our first quarter ...

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]

Core Insights - The article emphasizes the importance of innovation and disruption in the financial sector, particularly focusing on high-tech and early growth companies [1] Company and Industry Summary - The financial researcher highlights a beneficial long position in LADR shares, indicating confidence in the company's future performance [2] - The article aims to provide insights into current events and significant news within the industry, suggesting a proactive approach to identifying investment opportunities [1]

Financial Position - As of December 31, 2024, the company held a portfolio of 53 balance sheet first mortgage loans with an aggregate book value of $1.6 billion and a weighted average loan-to-value ratio of 66.6%[28] - The company owned 151 single tenant net leased properties with an undepreciated book value of $604.9 million, fully leased with an average age of 20 years and a weighted average remaining lease term of 7.6 years[34] - As of December 31, 2024, the estimated fair value of the company's portfolio of CMBS investments totaled $1.1 billion, with 97.6% rated investment grade[38] - The company held $1.1 billion of U.S. Treasury securities classified as cash and cash equivalents on its consolidated balance sheet as of December 31, 2024[42] - The company maintained a $3.8 billion pool of unencumbered assets, primarily consisting of first mortgage loans and unrestricted cash as of December 31, 2024[65] - As of December 31, 2024, the company's mortgage loan receivables held for investment totaled $1.6 billion, with an associated allowance for credit losses of $52.3 million[545] - The allowance for credit losses reflects the company's estimate of current expected credit losses (CECL) on mortgage loan receivables, including unfunded loan commitments, over the life of the loans[545] Investment and Loan Portfolio - The company held a portfolio of 4 mezzanine loans with an aggregate book value of $11.6 million and a weighted average loan-to-value ratio of 72.3%[29] - The company aims to maintain flexibility in its loan portfolio, allowing for contributions to CLOs, selling participation interests, or whole loans[27] - The company executed 16 new term debt agreements during the year ended December 31, 2024, with a carrying amount of $81.9 million, and total mortgage loan financings of $446.4 million[72] - The company has $1.2 billion of committed loan repurchase agreement facilities, with $62.7 million of borrowings outstanding as of December 31, 2024[69] - The company has the option to extend existing facilities, subject to customary conditions, and lenders have discretion over collateral inclusion[70] Revenue and Income - The company recorded a provision for loan loss of $13.9 million and charged off $5.0 million during the twelve months ended December 31, 2024[509] - Distributable earnings for the year ended December 31, 2024, were $153,930,000, a decrease of 8.3% from $167,727,000 in 2023[506] - The company reported a comprehensive income of $116,434 in 2024, compared to $107,657 in 2023, an increase of about 8.2%[565] - Net income attributable to Class A common shareholders increased from $101,125 in 2023 to $108,255 in 2024, representing a growth of about 7.1%[562] - Basic earnings per share rose from $0.81 in 2023 to $0.86 in 2024, an increase of about 6.2%[562] Cash Flow and Liquidity - Cash and cash equivalents increased from $1,015,678 in 2023 to $1,323,481 in 2024, a growth of approximately 30.3%[559] - The total cash, cash equivalents, and restricted cash reported in the consolidated statement of cash flows was $1.35 billion in 2024, compared to $659.60 million in 2022, marking a significant increase of 104.5%[578] - The company had a net increase in cash, cash equivalents, and restricted cash of $270.10 million in 2024, down from $416.34 million in 2023, a decrease of 35.1%[578] - Cash flows from financing activities showed a net outflow of $796.59 million in 2024, compared to a net outflow of $557.77 million in 2023, indicating a 42.9% increase in cash used[578] Regulatory and Compliance - The company is subject to financial covenants, seeking to maintain a debt-to-equity ratio of approximately 3.0:1.0 or below[78] - The company is in compliance with all covenants as of December 31, 2024[83] - Ladder Capital Asset Management LLC is a registered investment adviser under the Investment Advisers Act of 1940, providing advisory services primarily to Ladder-sponsored collateralized loan obligation trusts[89] - The company may face additional regulatory burdens if its investment adviser subsidiary expands its product offerings[533] Employee and Corporate Culture - As of December 31, 2024, Ladder employed 54 full-time employees, with no union representation and a strong employee relations environment[105] - Ladder's corporate culture emphasizes transparency, accountability, and ethical behavior, supported by a flat management structure and open-door policy[107] - The company offers comprehensive healthcare benefits, including mental health services and family leave, to promote employee wellness[112] Accounting and Financial Reporting - The company's internal control over financial reporting was deemed effective as of December 31, 2024, based on the COSO criteria[551] - The consolidated financial statements present fairly the financial position of the company at December 31, 2024, in conformity with U.S. generally accepted accounting principles[539] - The critical audit matter involves the subjective nature of estimating credit losses, which requires significant judgment[546] - The company utilizes distributable earnings as a non-GAAP financial measure to assess operating performance, excluding certain non-cash expenses and unrealized results[497] Market and Economic Factors - The interest rate environment significantly affects the company's net income, with changes in rates impacting both borrowing costs and yields on securities investments[477] - The company's securities investments are subject to fluctuations in estimated fair value primarily due to changes in interest rates[517] - The projected change in net income for a 1.00% decrease in interest rates is a loss of $28,146,000, while a 1.00% increase would result in a gain of $28,576,000[515]

Financial Data and Key Metrics Changes - In Q4 2024, Ladder generated distributable earnings of $33.6 million or $0.27 per share, achieving a return on equity of 8.9% [5][20] - For the full year 2024, distributable earnings totaled $153.9 million, delivering a 9.9% return on equity while maintaining low leverage and stable book value [6][20] - As of December 31, 2024, Ladder had $2.2 billion in liquidity, including $1.3 billion in cash and cash equivalents, representing approximately 27% of total assets [10][22] Business Line Data and Key Metrics Changes - The loan portfolio stood at $1.6 billion with a weighted average yield of 9.3% and minimal future funding commitments of only $35 million [12] - In Q4, Ladder originated six loans totaling $129 million, primarily focusing on multifamily and industrial properties [14] - The real estate portfolio generated $13.2 million in net rental income during Q4 and $56.3 million for the full year 2024 [16] Market Data and Key Metrics Changes - Ladder's loan portfolio paid down significantly, with $1.7 billion in proceeds from loan payoffs across 61 loan positions in 2024, marking the highest annual payoffs in the company's history [13] - The securities portfolio totaled $1.1 billion with a weighted average unlevered yield of 6%, primarily comprised of AAA-rated securities [17][30] Company Strategy and Development Direction - Ladder aims to enhance its capital structure and is focused on becoming an investment-grade company, which is expected to strengthen its market position and lower funding costs [11][26] - The company plans to deploy its substantial liquidity prudently as transaction volumes rebound and commercial real estate markets stabilize [19][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, anticipating opportunities in a recovering market while maintaining a disciplined approach to risk and growth [19][43] - The management noted that the current economic environment presents challenges but also opportunities for strategic investments [37][41] Other Important Information - Ladder's adjusted leverage remained modest at 1.4 times, with 77% of its asset base unencumbered [11] - The company repurchased $26 million in principal value of its 2025 bonds in Q4 2024 [25][34] Q&A Session Summary Question: Opportunities in CMBS conduit business - Management sees potential to increase CMBS conduit originations as regional banks pull back, creating opportunities for Ladder [46][47] Question: CECL reserve levels - Management plans to maintain the current CECL reserve level, indicating it is adequate to cover potential losses in the loan portfolio [49][51] Question: Impact of tightening yields on origination pipeline - Management acknowledges tightening credit spreads but emphasizes that interest rates remain high, affecting the types of properties they are willing to lend on [55][56] Question: Growth of loan book in 2025 - Management is optimistic about growing the loan book by $1 billion in 2025, targeting an unlevered return of around 8.5% [72][82] Question: Strategic partnerships in agency servicing - Management is open to exploring partnerships in agency servicing but currently has no discussions underway [98][104]

Okay, here's a summary of the key points from the provided report, formatted as requested: Financial Performance - Ladder Capital reported distributable earnings of $33.6 million and distributable EPS of $0.27 for Q4 2024[7,9] - The company's distributable ROAE (after-tax) was 8.9% for Q4 2024 and 9.9% for the full year 2024[7,9] - Ladder Capital declared a Q4 2024 cash dividend of $0.23 per share, representing an 8.2% annual dividend yield, with 1.2x dividend coverage based on Q4 2024 distributable EPS[9] - Full-year 2024 distributable earnings totaled $153.9 million[9] Balance Sheet & Liquidity - The company boasts $2.2 billion in total liquidity, including $1.3 billion in unrestricted cash and cash equivalents[7,9,13] - Ladder Capital has an $850 million unsecured corporate revolver (undrawn)[7,8,9,13] - Unencumbered assets total $3.8 billion, representing 77% of total assets[7,9,11,37] - 65% of total debt is comprised of unsecured corporate bonds[9,11] - 98% of debt is non-mark-to-market[7,9,11,34] Portfolio Composition & Activity - Investment assets and unrestricted cash total $4.9 billion, including $1.6 billion in first mortgage loans (33% of total), $904 million in CRE equity (18%), and $1.1 billion in securities (22%)[7,9] - The company originated and funded $129 million of first mortgage loans in Q4 2024[9,18] - Ladder Capital received $1.7 billion of balance sheet loan repayments in FY 2024[9]

Financial Data and Key Metrics Changes - In Q4 2024, Ladder generated distributable earnings of $33.6 million or $0.27 per share, achieving a return on equity of 8.9% [4][14] - For the full year 2024, distributable earnings totaled $153.9 million, delivering a 9.9% return on equity while maintaining low leverage and stable book value [4][14] - As of 12/31/2024, Ladder had $2.2 billion in liquidity, with $1.3 billion or approximately 27% of total assets in cash and cash equivalents [6][15] Business Line Data and Key Metrics Changes - The loan portfolio stood at $1.6 billion with a weighted average yield of 9.3%, and minimal future funding commitments of only $35 million [9] - In Q4 2024, Ladder originated six loans totaling $129 million, primarily focusing on multifamily industrial properties [9] - The real estate portfolio generated $13.2 million in net rental income during Q4 and $56.3 million for the full year 2024 [10][21] Market Data and Key Metrics Changes - Ladder's loan portfolio paid down significantly in 2024, with $1.7 billion in proceeds from loan payoffs across 61 loan positions, marking the highest annual payoffs in the company's history [9][19] - The securities portfolio totaled $1.1 billion with a weighted average unlevered yield of 6%, primarily comprised of AAA rated securities [11][20] Company Strategy and Development Direction - Ladder's conservative business model and disciplined credit underwriting have reinforced its position as a leading middle-market focused commercial real estate finance REIT [5][12] - The company aims to achieve investment-grade ratings to strengthen its market position and lower funding costs [8][18] - Ladder plans to deploy its substantial liquidity prudently in 2025, focusing on new acquisitions and refinancing opportunities [12][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, anticipating a rebound in transaction volumes and improved valuation clarity in commercial real estate markets [12][29] - The company noted that while credit spreads are tightening, interest rates remain high, impacting the types of loans being originated [41][42] - Management highlighted the importance of maintaining a disciplined approach to risk and growth while capitalizing on market opportunities [28][29] Other Important Information - Ladder's adjusted leverage remained modest at 1.4 times, with 77% of its asset base unencumbered [6][15] - The company repurchased $6 million of its common stock in Q4 2024 and $8 million for the full year, indicating a commitment to returning value to shareholders [22][23] Q&A Session Summary Question: Opportunities in CMBS conduit originations - Management sees potential to increase CMBS conduit originations as banks pull back, but current market conditions are not yet fully favorable [33][34] Question: Diesel reserve levels - Management plans to maintain the current reserve levels due to ongoing potential risks in the economy, with a likelihood of releasing reserves in the future [36][37] Question: Impact of tightening yields on origination pipeline - Management acknowledged tightening credit spreads but noted that interest rates remain high, affecting the types of properties they are willing to lend on [41][42] Question: Growth of loan book in 2025 - Management is optimistic about growing the loan book by $1 billion in 2025, targeting an unlevered return of around 8.5% [55][56][61]

Core Viewpoint - Ladder Capital (LADR) reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.26 per share, but down from $0.32 per share a year ago [1][2] Financial Performance - The company achieved revenues of $68.62 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 13.79% and up from $60.53 million year-over-year [3] - Ladder Capital has consistently exceeded consensus EPS estimates over the last four quarters [2][3] Market Performance - Since the beginning of the year, Ladder Capital shares have increased by approximately 0.5%, while the S&P 500 has gained 3.1% [4] - The current Zacks Rank for Ladder Capital is 4 (Sell), indicating expected underperformance in the near future [7] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.27 on revenues of $62.8 million, and for the current fiscal year, it is $1.17 on revenues of $264.15 million [8] - The trend for estimate revisions ahead of the earnings release was unfavorable, which may impact future stock performance [7] Industry Context - The REIT and Equity Trust industry, to which Ladder Capital belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]