Ladder Capital Earnings Call Transcripts
Fiscal Year 2026
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Q2 saw strong distributable earnings, robust loan origination, and continued rotation from securities to higher-yielding loans, supporting stable book value and a 9%+ dividend yield. Management expects further portfolio growth, rising net interest income, and ongoing share repurchases at a discount.
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The meeting confirmed a quorum and addressed two proposals: board member re-elections and auditor ratification. Voting was conducted online, with results to be disclosed in a forthcoming SEC filing.
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Distributable earnings rose to $28 million in Q1 2026, driven by strong loan origination and portfolio growth, with leverage at 2.3x and robust liquidity. Management expects distributable earnings to exceed the dividend next quarter and sees continued growth as loan originations accelerate.
Fiscal Year 2025
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Achieved investment-grade status, driving lower funding costs and strong liquidity. Loan originations and asset growth accelerated in late 2025, with a focus on disciplined underwriting and risk management. Outlook for 2026 targets higher loan growth, stable dividends, and a 9–10% ROE.
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Q3 2025 saw distributable earnings of $32.1M, record loan originations, and a successful $500M investment-grade bond issuance. Loan and securities portfolios each reached $1.9B, with strong liquidity and reduced office exposure. Loan growth and margin expansion are expected to continue.
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Achieved investment-grade status, issued a $500M unsecured bond at 5.5%, and reported Q2 distributable earnings of $30.9M with a 7.7% ROE. Portfolio growth is expected in the second half of 2025, supported by strong liquidity and a shift toward unsecured funding.
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Q1 2025 saw $25.5M in distributable earnings, strong liquidity, and a shift toward higher-yielding loans and AAA securities. Origination activity is expected to accelerate, with a focus on multifamily and industrial assets, while maintaining low leverage and robust credit quality.
Fiscal Year 2024
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Strong 2024 results with $153.9M distributable earnings and robust liquidity position. Loan payoffs hit record levels, while new originations and securities purchases set up for growth in 2025. Optimism for net loan book expansion and continued low leverage.
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Q3 2024 saw strong distributable earnings, robust liquidity, and a shift toward new loan originations as market conditions improve. Recent bond issuance and rating upgrades position the company for growth, with optimism for increased originations and earnings in 2025.
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Q2 2024 distributable earnings reached $40.4M ($0.31/share) with a 10.2% ROE and strong liquidity of $1.9B. A $500M unsecured bond issuance improved credit ratings, and the company remains well-positioned for growth as it deploys cash into higher-yielding assets.