Key Highlights

  • The third-quarter Dividend held at USD 0.23 per share, matching the second quarter, which annualizes to USD 0.92 (calculated) and produces a 10.9% Yield on a USD 8.45 share price (calculated).
  • Third-quarter distributable Earnings reached USD 0.35 per diluted share, up from USD 0.24 in the second quarter, so the dividend absorbs roughly 66% of that measure (calculated), or 61% of the USD 0.38 figure prior to charge-offs.
  • Book value per share works out to USD 11.61 (calculated), based on USD 1,463.1 million of Equity across 126.0 million shares, leaving the USD 8.45 price at about 0.73 times Book Value (calculated).
  • Debt to equity sits at 2.97x (calculated) on USD 4,346.4 million of debt. Ratings are Baa3 from Moody's and BBB- from Fitch, both Investment grade, while S&P Global assigns BB+.

Quarterly Payout Pattern and Share Count at Ladder Capital Corp (NYSE:LADR)

The third-quarter payout of USD 0.23 per share matched the second quarter and works out to USD 0.92 a year (calculated). Across 125,992,003 outstanding shares, the quarterly outlay is about USD 29.0 million (calculated). Share count fell from 127,233,559 at year end 2025, and treasury stock also increased by approximately 1.24 million shares and USD 10.1 million, a figure derived from the Balance Sheet (calculated), so repurchases form part of capital return. Insiders hold about 13% of the company.

Distributable Earnings as the Yardstick at Ladder Capital Corp (NYSE:LADR)

For a commercial Mortgage REIT, distributable earnings is the key gauge, since it strips out items such as unrealized gains and Depreciation from GAAP income. Ladder Capital Corp (NYSE:LADR) produced USD 44.7 million, or USD 0.35 per diluted share, in the third quarter. The second quarter showed USD 30.8 million (USD 0.24), while USD 48.2 million (USD 0.38) was the figure before a USD 3.5 million charge-off, and the after-tax distributable return on average equity measured 12.1%. GAAP Net Income to Class A shareholders of USD 65.9 million, or USD 0.53 per diluted share, was boosted by a USD 65.6 million real estate gain that chiefly reflected the sale of an office building in Jacksonville, Florida. Second-quarter GAAP EPS was USD 0.12.

Asset Growth, Leverage and Credit Exposure at Ladder Capital Corp (NYSE:LADR)

Market Capitalization for Ladder Capital Corp (NYSE:LADR) stands near USD 1.06 billion. Total Assets climbed to USD 6,044.7 million, up from USD 5,152.6 million at the end of 2025, made up of USD 2,951.5 million in mortgage loans, USD 2,276.3 million in securities and USD 654.2 million in real estate. More than USD 700 million went into new loans and securities during the quarter. Credit loss allowances fell to USD 43.6 million, compared with USD 47.1 million previously, while cash totalled USD 41.8 million, and management calls Liquidity ample without quantifying it. Risks span Commercial Real Estate credit, office exposure, renewing secured financing and sensitivity to interest rates.

Where Things Stand

Ladder Capital Corp (NYSE:LADR) pays a dividend that distributable earnings covered in both reported quarters, with the third-quarter share near 66% and the second-quarter share close to 96% (calculated), so coverage is uneven. The climb to USD 0.35 came from balance sheet expansion and gains rather than a lasting lift in recurring income. The investment grade ratings sit beside an S&P Global BB+ rating with a positive outlook, supporting access to unsecured funding, while the USD 2,276.3 million securities book adds liquidity and yield. No numeric guidance has been issued. Leverage of 2.97x Debt to equity (calculated) grows along with the balance sheet, which would magnify credit losses.