Ladder Capital Corp. (LADR)
NYSEReal EstateReit - MortgageSnapshot 2026-09-04
$9.83+0.10%
Close 2026-09-04 · 1-day change
NYSEReal EstateReit - MortgageSnapshot 2026-09-04
Intact: The reason to own it still holds.
Ladder Capital aims to grow earnings in 2026 with an EPS target of $0.22. The company trades at a reasonable PE of 11.3 and has a free cash flow yield near 9%. Recent earnings beats show some operational strength. Stable market conditions support recovery.
Earnings have recently missed expectations and net income dropped sharply from $15.86M to $2.60M. EPS for Q1 2026 was only $0.02, far below the $0.22 annual target. Revenue growth is expected to be flat or slightly negative, indicating ongoing challenges.
The current price reflects about 5% above our valuation level and analysts expect roughly zero revenue growth. Our view is cautious given the mixed earnings progress and limited growth outlook.
Breaks if: EPS falls below $0.22 in FY26
Breaks if: net income remains flat or declines below $2.6M
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a stable income generator with a focus on earnings growth. The current thesis state is cautious, as recent performance has not met industry standards, and the company is under watch for potential risks.
The market seems to assume a neutral valuation, with expectations that do not fully reflect the company's fragile earnings quality. There is a slight premium compared to peers, indicating some investor caution.
Management is on track to achieve its earnings growth and distributable EPS targets for 2026. However, there is a moderate risk of missing expectations, especially given the recent performance of industry peers.
The thesis hinges on the company's ability to maintain guidance and the broader economic environment, particularly interest rate movements. Additionally, performance from sector leaders will be crucial for LADR's momentum.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Focus on growing loan portfolio and distributable earnings to enhance overall earnings in 2026.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $74.2M in 2026-Q1 to $78.2M in 2026-Q2, and net income increased from $2.6M to $14.6M over the same period. Management's focus on growing the loan portfolio and distributable earnings is reflected in this positive earnings trajectory, indicating delivering progress.
“Ladder delivered a strong second quarter, growing our loan portfolio and distributable earnings.”
“Ladder had a strong start to 2026, growing our loan portfolio and further strengthening our financing structure.”
Breaks if: revenue growth falls below -0.3% YoY
Focus on growing loan portfolio and distributable earnings to enhance overall earnings in 2026.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $74.2M in 2026-Q1 to $78.2M in 2026-Q2, and net income increased from $2.6M to $14.6M over the same period. Management's focus on growing the loan portfolio and distributable earnings is reflected in this positive earnings trajectory, indicating delivering progress.
“Ladder delivered a strong second quarter, growing our loan portfolio and distributable earnings.”
“Ladder had a strong start to 2026, growing our loan portfolio and further strengthening our financing structure.”
Over the next 1 to 3 years, LADR's performance will depend on management execution and external economic factors. Not investment advice.