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LADR

Ladder Capital NYSE:LADR Stock Report

Last Price

US$11.06

Market Cap

US$1.4b

7D

10.7%

1Y

-8.9%

Updated

26 Jun, 2022

Data

Company Financials +
LADR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance4/6
Financial Health3/6
Dividends2/6

LADR Stock Overview

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.

Ladder Capital Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Ladder Capital
Historical stock prices
Current Share PriceUS$11.06
52 Week HighUS$12.70
52 Week LowUS$9.43
Beta2.01
1 Month Change-3.41%
3 Month Change-9.20%
1 Year Change-8.90%
3 Year Change-33.41%
5 Year Change-17.52%
Change since IPO-34.90%

Recent News & Updates

Jun 18

Ladder Capital: Raised Dividend, Big Discount To Book

Ladder Capital’s floating rate assets point to growth in net interest income. The trust just raised its pay-out by 10%, has a well-covered dividend. The trust’s stock trades at a large discount to book value.

May 29

Ladder Capital: A 7%-Yielding, Inflation-Busting Machine

LADR is a well-run commercial mortgage REIT that's set to benefit from continued interest rate hikes. It's also exhibiting decent EPS momentum and dividend is now amply covered by earnings. I also highlight why the share price appears to be attractive at these levels.

Shareholder Returns

LADRUS Mortgage REITsUS Market
7D10.7%9.1%6.6%
1Y-8.9%-28.0%-18.5%

Return vs Industry: LADR exceeded the US Mortgage REITs industry which returned -28% over the past year.

Return vs Market: LADR exceeded the US Market which returned -18.5% over the past year.

Price Volatility

Is LADR's price volatile compared to industry and market?
LADR volatility
LADR Average Weekly Movement5.2%
Mortgage REITs Industry Average Movement5.4%
Market Average Movement8.0%
10% most volatile stocks in US Market16.6%
10% least volatile stocks in US Market3.1%

Stable Share Price: LADR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: LADR's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200863Brian Harrishttps://www.laddercapital.com

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.

Ladder Capital Fundamentals Summary

How do Ladder Capital's earnings and revenue compare to its market cap?
LADR fundamental statistics
Market CapUS$1.41b
Earnings (TTM)US$75.36m
Revenue (TTM)US$226.38m

18.7x

P/E Ratio

6.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
LADR income statement (TTM)
RevenueUS$226.38m
Cost of RevenueUS$51.98m
Gross ProfitUS$174.40m
Other ExpensesUS$99.04m
EarningsUS$75.36m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.59
Gross Margin77.04%
Net Profit Margin33.29%
Debt/Equity Ratio287.8%

How did LADR perform over the long term?

See historical performance and comparison

Dividends

7.2%

Current Dividend Yield

131%

Payout Ratio

Does LADR pay a reliable dividends?

See LADR dividend history and benchmarks
When do you need to buy LADR by to receive an upcoming dividend?
Ladder Capital dividend dates
Ex Dividend DateJun 29 2022
Dividend Pay DateJul 15 2022
Days until Ex dividend3 days
Days until Dividend pay date19 days

Does LADR pay a reliable dividends?

See LADR dividend history and benchmarks
We’ve recently updated our valuation analysis.

Valuation

Is LADR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LADR?

Other financial metrics that can be useful for relative valuation.

LADR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio1x

Price to Earnings Ratio vs Peers

How does LADR's PE Ratio compare to its peers?

LADR PE Ratio vs Peers
The above table shows the PE ratio for LADR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.3x

Price-To-Earnings vs Peers: LADR is good value based on its Price-To-Earnings Ratio (18.7x) compared to the peer average (21.3x).


Price to Earnings Ratio vs Industry

How does LADR's PE Ratio compare vs other companies in the U.S. Mortgage REITs Industry?

Price-To-Earnings vs Industry: LADR is expensive based on its Price-To-Earnings Ratio (18.7x) compared to the US Mortgage REITs industry average (11.2x)


Price to Earnings Ratio vs Fair Ratio

What is LADR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LADR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.7x
Fair PE Ratio14.7x

Price-To-Earnings vs Fair Ratio: LADR is expensive based on its Price-To-Earnings Ratio (18.7x) compared to the estimated Fair Price-To-Earnings Ratio (14.7x).


Share Price vs Fair Value

What is the Fair Price of LADR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LADR ($11.06) is trading above our estimate of fair value ($3.93)

Significantly Below Fair Value: LADR is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: LADR is good value based on its PEG Ratio (1x)


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Future Growth

How is Ladder Capital forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


19.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LADR's forecast earnings growth (19.3% per year) is above the savings rate (1.9%).

Earnings vs Market: LADR's earnings (19.3% per year) are forecast to grow faster than the US market (14% per year).

High Growth Earnings: LADR's earnings are forecast to grow, but not significantly.

Revenue vs Market: LADR's revenue (11.1% per year) is forecast to grow faster than the US market (8.4% per year).

High Growth Revenue: LADR's revenue (11.1% 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 LADR's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has Ladder Capital performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-25.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: LADR has high quality earnings.

Growing Profit Margin: LADR's current net profit margins (33.3%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: LADR's earnings have declined by 25.8% per year over the past 5 years.

Accelerating Growth: LADR's earnings growth over the past year (5009.3%) exceeds its 5-year average (-25.8% per year).

Earnings vs Industry: LADR earnings growth over the past year (5009.3%) exceeded the Mortgage REITs industry 5.4%.


Return on Equity

High ROE: LADR's Return on Equity (5%) is considered low.


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Financial Health

How is Ladder Capital's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: LADR's short term assets ($4.4B) exceed its short term liabilities ($674.7M).

Long Term Liabilities: LADR's short term assets ($4.4B) exceed its long term liabilities ($3.8B).


Debt to Equity History and Analysis

Debt Level: LADR's net debt to equity ratio (259.2%) is considered high.

Reducing Debt: LADR's debt to equity ratio has reduced from 296% to 287.8% over the past 5 years.

Debt Coverage: LADR's debt is not well covered by operating cash flow (2.1%).

Interest Coverage: Insufficient data to determine if LADR's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Ladder Capital current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


7.23%

Current Dividend Yield

Upcoming Dividend Payment

TodayJun 26 2022Ex Dividend DateJun 29 2022Dividend Pay DateJul 15 202216 days from Ex DividendBuy in the next 3 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: LADR's dividend (7.23%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: LADR's dividend (7.23%) is in the top 25% of dividend payers in the US market (4.24%)


Stability and Growth of Payments

Stable Dividend: LADR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: LADR has only been paying a dividend for 7 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (131.5%), LADR's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (109.1%), LADR's dividend payments are not well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure


CEO

Brian Harris (61 yo)

13.67yrs

Tenure

US$10,928,909

Compensation

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 ($USD10.93M) is above average for companies of similar size in the US market ($USD5.48M).

Compensation vs Earnings: Brian's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: LADR's management team is seasoned and experienced (5.1 years average tenure).


Board Members

Experienced Board: LADR's board of directors are considered experienced (7 years average tenure).


Ownership

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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ladder Capital Corp's employee growth, exchange listings and data sources


Key Information

  • Name: Ladder Capital Corp
  • Ticker: LADR
  • Exchange: NYSE
  • Founded: 2008
  • Industry: Mortgage REITs
  • Sector: Diversified Financials
  • Implied Market Cap: US$1.407b
  • Market Cap: US$1.407b
  • Shares outstanding: 127.22m
  • Website: https://www.laddercapital.com

Number of Employees


Location

  • Ladder Capital Corp
  • 345 Park Avenue
  • 8th Floor
  • New York
  • New York
  • 10154
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.