Overview
US commercial real estate lender's Q1 distributable earnings rose to $28 mln, distributable EPS at $0.22
Company authorized $100 mln share buyback on April 21
Quarterly results driven by highest loan origination volume in four years
Outlook
Company says it is well-positioned to continue growing its balance sheet and earnings
Ladder Capital sees attractive opportunities for loan origination in current market conditions
Result Drivers
LOAN ORIGINATIONS - Co said quarterly results were driven by highest loan origination volume in four years
LIQUIDITY AND FINANCING - Co said it further strengthened its financing structure and liquidity profile in Q1
Company press release: ID:nBw7lrfpPa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Distributable earnings
$28 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Ladder Capital Corp is $12.50, about 22% above its April 22 closing price of $10.25
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)