NYSE:LADR

Stock Analysis Report

Executive Summary

Ladder Capital Corp operates as a real estate investment trust in the United States.

Snowflake

Fundamentals

Average dividend payer and fair value.


Similar Companies

Share Price & News

How has Ladder Capital's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.0%

NYSE:LADR

-3.3%

US Mortgage REITs

-1.0%

US Market


1 Year Return

-2.6%

NYSE:LADR

-9.8%

US Mortgage REITs

-0.4%

US Market

LADR outperformed the Mortgage REITs industry which returned -10.1% over the past year.

LADR matched the United States of America Market (-1.7%) over the past year.


Share holder returns

LADRIndustryMarket
7 Day-1.0%-3.3%-1.0%
30 Day-0.4%-3.1%-3.3%
90 Day2.3%-3.5%0.4%
1 Year6.8%-2.6%0.4%-9.8%1.8%-0.4%
3 Year68.0%27.6%32.3%-4.6%39.4%30.4%
5 Year43.3%-10.8%48.1%-15.1%54.2%37.1%

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

Valuation

Is Ladder Capital undervalued based on future cash flows and its price relative to the stock market?

36%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Ladder Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).

Ladder Capital's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Ladder Capital is good value based on earnings compared to the US Mortgage REITs industry average.

Ladder Capital is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Ladder Capital is poor value based on expected growth next year.


Price Based on Value of Assets

Ladder Capital is overvalued based on assets compared to the US Mortgage REITs industry average.


Next Steps

Future Growth

How is Ladder Capital expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

8.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Ladder Capital's revenue is expected to grow by 3.7% yearly, however this is not considered high growth (20% yearly).

Ladder Capital's earnings are expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).

Ladder Capital's revenue growth is positive but not above the United States of America market average.

Ladder Capital's earnings growth is positive but not above the United States of America market average.

Ladder Capital's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Ladder Capital is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Ladder Capital performed over the past 5 years?

28.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Ladder Capital has delivered over 20% year on year earnings growth in the past 5 years.

Ladder Capital's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Ladder Capital's 1-year earnings growth is negative, it can't be compared to the US Mortgage REITs industry average.


Return on Equity

Ladder Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Ladder Capital used its assets more efficiently than the US Mortgage REITs industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if Ladder Capital improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is Ladder Capital's financial position?


Financial Position Analysis

Ladder Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Ladder Capital's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Ladder Capital's level of debt (279.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (153.5% vs 279.9% today).

Debt is not well covered by operating cash flow (3.5%, less than 20% of total debt).

Unable to confirm if the interest payments on Ladder Capital's debt are well covered by earnings due to lack of past financial data.


Balance Sheet

Low level of unsold assets.

Debt is not covered by short term assets, assets are 0.7x debt.


Next Steps

Dividend

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

8.37%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Ladder Capital's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).

Ladder Capital's dividend is above the markets top 25% of dividend payers in United States of America (3.9%).

Ladder Capital has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but Ladder Capital only paid a dividend in the past 4 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.2x coverage).


Next Steps

Management

What is the CEO of Ladder Capital's salary, the management and board of directors tenure and is there insider trading?

2.4yrs

Average management tenure


CEO

Brian Harris (59yo)

6.3yrs

Tenure

US$17,308,240

Compensation

Mr. Brian Richard Harris serves as the Chief Executive Officer of Ladder Capital Finance LLC, Ladder Capital Securities LLC and Ladder Capital Realty Finance Inc. Mr. Harris has been the Chief Executive Of ...


CEO Compensation Analysis

Brian's remuneration is higher than average for companies of similar size in United States of America.

Brian's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.4yrs

Average Tenure

52.5yo

Average Age

The tenure for the Ladder Capital management team is about average.


Board Age and Tenure

3.2yrs

Average Tenure

58.5yo

Average Age

The tenure for the Ladder Capital board of directors is about average.


Insider Trading

More shares have been bought than sold by Ladder Capital individual insiders in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

BuyUS$24,03003 Jun 19
Pamela McCormack
EntityIndividual
Role
Co-Founder
Member of the Board of Directors
Shares1,500
Max PriceUS$16.02
BuyUS$25,64823 May 19
Pamela McCormack
EntityIndividual
Role
Co-Founder
Member of the Board of Directors
Shares1,600
Max PriceUS$16.03
SellUS$19,272,09814 Mar 19
The Related Companies, Investment Arm
EntityCompany
Shares1,126,097
Max PriceUS$17.61
SellUS$14,487,44014 Dec 18
The Related Companies, Investment Arm
EntityCompany
Shares808,000
Max PriceUS$17.93

Ownership Breakdown


Management Team

  • Marc Fox (59yo)

    CFO and Head of Merchant Banking & Capital Markets

    • Tenure: 10.8yrs
    • Compensation: $2.33m
  • Marc Waldman

    Managing Director

    • Tenure: 2.5yrs
  • Michelle Wallach

    Chief Compliance Officer & Senior Regulatory Counsel

  • Pamela McCormack (48yo)

    Co-Founder

    • Tenure: 2.2yrs
    • Compensation: $5.40m
  • Kevin Moclair (46yo)

    Chief Accounting Officer

  • Ryan Jantzen

    Co-Head of Origination

    • Tenure: 2.3yrs
  • Kelly Porcella (37yo)

    Chief Administrative Officer

    • Tenure: 0.3yrs
  • Lee Warshaw

    Managing Director

  • Brian Harris (59yo)

    Founder

    • Tenure: 6.3yrs
    • Compensation: $17.31m
  • Robert Perelman (57yo)

    Head of Asset Management & Co- Founder

    • Compensation: $1.46m

Board Members

  • Alan Fishman (73yo)

    Non-Executive Chairman of the Board

    • Tenure: 6.3yrs
    • Compensation: $374.99k
  • Douglas Durst (75yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: $199.99k
  • Jeffrey Steiner

    Director

    • Tenure: 1.1yrs
    • Compensation: $120.16k
  • Mike Mazzei (58yo)

    Director

    • Tenure: 2.2yrs
    • Compensation: $174.99k
  • David Weiner

    Director

    • Tenure: 0.2yrs
  • Mark Alexander (57yo)

    Director

    • Tenure: 4.2yrs
    • Compensation: $189.99k
  • Brian Harris (59yo)

    Founder

    • Tenure: 6.3yrs
    • Compensation: $17.31m
  • Pamela McCormack (48yo)

    Co-Founder

    • Tenure: 0.2yrs
    • Compensation: $5.40m

Company Information

Ladder Capital Corp's company bio, 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$1.976b
  • Market Cap: US$1.789b
  • Shares outstanding: 119.73m
  • Website: Click here

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LADRNYSE (New York Stock Exchange)YesClass A Common StockUSUSDFeb 2014
LD1ADB (Deutsche Boerse AG)YesClass A Common StockDEEURFeb 2014
0JSZLSE (London Stock Exchange)YesClass A Common StockGBUSDFeb 2014

Biography

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 fi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/17 00:59
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.