Ladder Capital reported GAAP income before taxes of $16.3 million and diluted EPS of $0.12 for the quarter ended June 30, 2026, while distributable earnings were $30.8 million, or distributable EPS of $0.24. The company said book value remained stable as it grew its loan portfolio and generated gains across its multi-cylinder platform. Ladder Capital will host a conference call and made supplemental investor materials available on its IR website.
Financial Highlights
- Income before taxes (GAAP): $16.3 million for Q2 2026.
- Diluted earnings per share (GAAP): $0.12 for Q2 2026.
- Distributable earnings: $30.8 million for Q2 2026.
- Distributable EPS: $0.24 for Q2 2026 (after-tax distributable earnings $29.82 million).
- Total assets: $5.606 billion as of June 30, 2026; total liabilities: $4.1796 billion; total equity: $1.4267 billion.
Business Highlights
- Loan portfolio growth: Mortgage loans receivable increased to $2.790 billion (net of allowance) as of June 30, 2026, from $2.217 billion at December 31, 2025, reflecting origination activity and portfolio expansion.
- Multi-cylinder platform performance: Continued generation of gains across lending, real estate operations and securities investments contributed to distributable earnings growth.
- Real estate operations: Real estate and related lease intangibles, net increased to $776.5 million, with real estate operating income of $30.9 million for the quarter.
- Capital and funding: Debt obligations, net were $4.0049 billion as of June 30, 2026, supporting lending and investment activities.
- Corporate positioning: Management and the board maintain significant insider ownership and the company retains investment-grade ratings from Moody’s (Baa3) and Fitch (BBB-) with stable outlooks, and S&P (BB+) with a positive outlook.
Original SEC Filing:
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