Ladder Capital(US:LADR)2025-02-06 16:39Okay, 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]