Q2 2026 Ladder Capital Corp Earnings Call Transcript
Key Points
- Ladder Capital Corp (LADR) reported strong second-quarter results with distributable earnings of $30.8 million or $0.24 per share.
- The company has a robust origination activity, having originated $1.2 billion in new loans year-to-date, with a loan portfolio growth of 75% over the trailing 12 months.
- Ladder Capital Corp (LADR) maintains a high dividend yield of over 9%, with potential total return above 30% if the stock price gap closes.
- The company has a strong investment-grade balance sheet, providing liquidity and financial flexibility to rotate capital into higher-yielding loans.
- Ladder Capital Corp (LADR) continues to repurchase stock at a discount to book value, enhancing book value per share and providing an attractive use of capital.
- Ladder Capital Corp (LADR) stock trades at a meaningful discount to book value, indicating potential undervaluation by the market.
- The company faces challenges in the office sector, with one loan added to non-accrual status and a foreclosure on an office property in Birmingham, Alabama.
- The securities portfolio's share of total assets is expected to contract further, driven by loan origination activity, which may impact liquidity.
- The conduit business remains below pre-COVID levels, with interest rates being too choppy for significant ramp-up.
- Borrower appetite is selective due to higher interest rates, creating a competitive environment and potentially impacting loan origination.
Good morning, and welcome to Ladder Capital Corp's earnings call for the second quarter of 2026. As a reminder, today's call is being recorded.
This morning, Ladder released its financial results for the quarter ended June 30, 2026. Before the call begins, I'd like to call your attention to the customary safe harbor disclosure in our earnings release regarding forward-looking statements. Today's call may include forward-looking statements and projections, and we refer you to our most recent Form 10-K for important factors that could cause actual results to differ materially from these statements and projections. We do not undertake any obligation to update our forward-looking statements or projections unless required by law.
In addition, Ladder will discuss certain non-GAAP financial measures on this call, which management believes are relevant to assessing the company's financial performance.
The company's presentation of this information is not intended to be considered in isolation or as a substitute with the financial information presented in accordance with GAAP. These
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
