Ladder Capital Corp operates as a real estate investment trust in the United States.
Undervalued with limited growth.
Share Price & News
How has Ladder Capital's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LD1A's share price has been volatile over the past 3 months.
7 Day Return
DE Mortgage REITs
1 Year Return
DE Mortgage REITs
Return vs Industry: LD1A underperformed the German Mortgage REITs industry which returned -42.5% over the past year.
Return vs Market: LD1A underperformed the German Market which returned 2.5% over the past year.
Price Volatility Vs. Market
How volatile is Ladder Capital's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Ladder Capital undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LD1A (€6.25) is trading below our estimate of fair value (€15.7)
Significantly Below Fair Value: LD1A is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: LD1A is good value based on its PE Ratio (8.7x) compared to the Mortgage REITs industry average (21.1x).
PE vs Market: LD1A is good value based on its PE Ratio (8.7x) compared to the German market (20.7x).
Price to Earnings Growth Ratio
PEG Ratio: LD1A is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: LD1A is good value based on its PB Ratio (0.6x) compared to the XX Mortgage REITs industry average (0.6x).
How is Ladder Capital forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LD1A's forecast earnings growth (5.7% per year) is above the savings rate (0.2%).
Earnings vs Market: LD1A's earnings (5.7% per year) are forecast to grow slower than the German market (22.5% per year).
High Growth Earnings: LD1A's earnings are forecast to grow, but not significantly.
Revenue vs Market: LD1A's revenue (11.3% per year) is forecast to grow faster than the German market (5.9% per year).
High Growth Revenue: LD1A's revenue (11.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if LD1A's Return on Equity is forecast to be high in 3 years time
How has Ladder Capital performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LD1A has high quality earnings.
Growing Profit Margin: LD1A's current net profit margins (33.7%) are lower than last year (43.6%).
Past Earnings Growth Analysis
Earnings Trend: LD1A's earnings have grown significantly by 21.6% per year over the past 5 years.
Accelerating Growth: LD1A's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: LD1A had negative earnings growth (-44%) over the past year, making it difficult to compare to the Mortgage REITs industry average (-44%).
Return on Equity
High ROE: LD1A's Return on Equity (6.6%) is considered low.
How is Ladder Capital's financial position?
Financial Position Analysis
Short Term Liabilities: LD1A's short term assets ($4.2B) exceed its short term liabilities ($960.9M).
Long Term Liabilities: LD1A's short term assets ($4.2B) do not cover its long term liabilities ($4.9B).
Debt to Equity History and Analysis
Debt Level: LD1A's debt to equity ratio (378.5%) is considered high.
Reducing Debt: LD1A's debt to equity ratio has increased from 280.2% to 378.5% over the past 5 years.
Debt Coverage: LD1A's debt is not well covered by operating cash flow (2.9%).
Interest Coverage: Insufficient data to determine if LD1A's interest payments on its debt are well covered by EBIT.
What is Ladder Capital current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: LD1A's dividend (19.65%) is higher than the bottom 25% of dividend payers in the German market (1.25%).
High Dividend: LD1A's dividend (19.65%) is in the top 25% of dividend payers in the German market (3.84%)
Stability and Growth of Payments
Stable Dividend: LD1A has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: LD1A's dividend payments have increased, but the company has only paid a dividend for 5 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (170.1%), LD1A's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LD1A's dividends in 3 years are not forecast to be well covered by earnings (91% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Brian Harris (60yo)
Mr. Brian Richard Harris serves as the Chief Executive Officer of Ladder Capital Finance LLC. Mr. Harris has been the Chief Executive Officer of Ladder Capital Securities LLC since October 2009. Mr. Harris ...
CEO Compensation Analysis
Compensation vs Market: Brian's total compensation ($USD16.71M) is above average for companies of similar size in the German market ($USD1.43M).
Compensation vs Earnings: Brian's compensation has been consistent with company performance over the past year.
|Co-Founder & Head of Asset Management||11.75yrs||US$1.35m||0.24% $1.8m|
|CFO and Head of Merchant Banking & Capital Markets||11.67yrs||US$2.17m||0.33% $2.5m|
|Chief Administrative Officer||1.25yrs||US$1.29m||0.059% $451.6k|
|Chief Accounting Officer||no data||no data||0.016% $124.7k|
|Chief Compliance Officer & Senior Regulatory Counsel||no data||no data||no data|
|Managing Director||no data||no data||no data|
|Managing Director||3.42yrs||no data||no data|
|Co-Head of Origination||3.25yrs||no data||no data|
Experienced Management: LD1A's management team is considered experienced (3.4 years average tenure).
|Independent Non-Executive Chairman of the Board||7.17yrs||US$375.00k||1.12% $8.6m|
|Independent Director||6.5yrs||US$200.00k||3.29% $25.3m|
|Independent Director||2yrs||US$175.00k||0.012% $93.1k|
|Independent Director||1.08yrs||US$132.23k||0.0079% $60.6k|
|Independent Director||5.08yrs||US$190.00k||0.080% $615.5k|
Experienced Board: LD1A's board of directors are considered experienced (5.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Ladder Capital Corp's company bio, employee growth, exchange listings and data sources
- Name: Ladder Capital Corp
- Ticker: LD1A
- Exchange: DB
- Founded: 2008
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Implied Market Cap: US$866.371m
- Market Cap: US$689.370m
- Listing Market Cap: US$766.739m
- Shares outstanding: 120.50m
- Website: https://www.laddercapital.com
Number of Employees
- Ladder Capital Corp
- 345 Park Avenue
- 8th Floor
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|LADR||NYSE (New York Stock Exchange)||Yes||Class A Common Stock||US||USD||Feb 2014|
|LD1A||DB (Deutsche Boerse AG)||Yes||Class A Common Stock||DE||EUR||Feb 2014|
|0JSZ||LSE (London Stock Exchange)||Yes||Class A Common Stock||GB||USD||Feb 2014|
Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning. It also invests in note purchase financings, subordinated debt, mezzanine debt, and other structured finance products related to commercial real estate. The Securities segment invests in commercial mortgage-backed securities and the U.S. Agency Securities. This segment also invests in corporate bonds and real estate related equity investments. The Real Estate segment owns and invests in a portfolio of commercial and residential real estate properties, such as leased properties, student housing portfolio, industrial buildings, office buildings, shopping center, and condominium units. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 2008 and is headquartered in New York, New York.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/09 21:37|
|End of Day Share Price||2020/07/09 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.