Key Highlights

  • 0.23 USD per share was the third quarter Dividend of Ladder Capital Corp (NYSE:LADR), unchanged from the second quarter, or USD 0.92 annualized (calculated), a Yield of 10.9% on a share price of USD 8.45 (calculated).
  • 0.35 USD per diluted share was third quarter distributable earnings, against USD 0.24 in the second quarter, so the dividend equals about 66% of the measure (calculated), and 61% of the USD 0.38 figure before charge-offs.
  • 11.61 USD is Book Value per share (calculated) on USD 1,463.1 million of Equity and 126.0 million shares, so the price of USD 8.45 equals about 0.73 times book value (calculated).
  • 2.97x is Debt to equity (calculated) on USD 4,346.4 million of debt, while the company holds Investment grade ratings of Baa3 from Moody's and BBB- from Fitch, and BB+ from S&P Global.

Dividend Profile: Yield, Payout and Distribution Record of Ladder Capital Corp (NYSE:LADR)

Ladder Capital declared a dividend of USD 0.23 per share for the third quarter of 2026, the same amount as the second quarter, which annualizes to USD 0.92 per share (calculated). On 125,992,003 shares outstanding, the quarterly cost is about USD 29.0 million (calculated). The company also reduced its share count to 125,992,003 from 127,233,559 at year end 2025, and treasury stock rose by about 1.24 million shares and USD 10.1 million (calculated from the balance sheet), so capital return includes repurchases. Insiders own about 13% of the company.

The Rationale: Earnings, Cash Flow and Dividend Coverage at Ladder Capital Corp (NYSE:LADR)

For a commercial Mortgage REIT the measure that matters is distributable earnings, which adjusts GAAP income for items such as unrealized gains and depreciation. Distributable Earnings were USD 44.7 million, or USD 0.35 per diluted share, against USD 30.8 million, or USD 0.24, in the second quarter, and USD 48.2 million, or USD 0.38, before a USD 3.5 million charge-off. After-tax distributable return on average equity was 12.1%. GAAP Net Income to Class A shareholders was USD 65.9 million, or USD 0.53 per diluted share, lifted by a USD 65.6 million gain on real estate, mainly the sale of an office property in Jacksonville, Florida. Second quarter GAAP EPS was USD 0.12.

Valuation, Balance Sheet and Risks for Ladder Capital Corp (NYSE:LADR)

Market Capitalization is about USD 1.06 billion. Total Assets rose to USD 6,044.7 million from USD 5,152.6 million at year end 2025, comprising USD 2,951.5 million of mortgage loans, USD 2,276.3 million of securities and USD 654.2 million of real estate. The company deployed over USD 700 million into new loans and securities in the quarter. The allowance for Credit losses was USD 43.6 million, down from USD 47.1 million. Cash was USD 41.8 million, and the company describes Liquidity as ample without a dollar figure. Risks include Commercial Real Estate credit, office exposure, secured financing renewal and Interest Rate sensitivity.

Where Things Stand

Ladder Capital Corp (NYSE:LADR) pays a dividend that distributable earnings have covered in both reported quarters, at about 66% in the third quarter and about 96% in the second quarter (calculated), so coverage is uneven. The rise to USD 0.35 reflected balance sheet growth and gains rather than a step change in recurring income. The investment grade ratings, with S&P Global at BB+ on a positive outlook, give access to unsecured funding, and a securities book of USD 2,276.3 million adds liquidity and yield. The company has issued no numeric guidance. Leverage of 2.97x debt to equity (calculated) rises as the balance sheet grows, which would amplify credit losses.