# Ladder Capital Corp (LADR)

> Source: Nexqual · https://nexqual.com/LADR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Ladder Capital Corp (LADR), nexqual.com/LADR" · informational, not investment advice.

**Price:** USD 9.32 (+4.02% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 8.96 · day 9–9.37 · 52w 8.48–11.48 · market cap $1.18B · NYQ

## Key facts
- Valuation: P/E 22.7x (avg 13.7x at the last 2 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $359K; 1 not under a Rule 10b5-1 plan ($359K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 11.61 (range 10–13.5).
- Total return with dividends: 1Y -7.3% vs S&P 500 +14.9%; 5Y +21.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-16, EPS estimate USD 0.25, revenue estimate $59.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $56.9M | $165M | $101M | $107M | $63.7M | $52.2M |
| EPS (diluted) | $0.45 | $1.13 | $0.81 | $0.86 | $0.51 | — |
| Free cash flow | $74.9M | $99.8M | $176M | $127M | $78.7M | $95.4M |
| Cash + short-term investments | $549M | $609M | $1.02B | $1.32B | $38.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 22.7x · P/FCF 12.4x · P/B 0.8x · FCF yield 8.07% · Earnings yield 4.41% · Buyback yield (TTM) 2.03%
P/E at fiscal year-ends: Dec 2024 13.1x, Dec 2023 14.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-29…2026-06-02 | Perelman Robert | Head of Asset Management | 35,000 | $359K | 7.5% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 11.61 (low 10, high 13.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Keefe, Bruyette & Woods | Target lowered | Outperform | $10.75 → $10.25 |
| 2026-07-28 | Keefe, Bruyette & Woods | Target lowered | Outperform | $11 → $10.75 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -7.3% | +21.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.3% | +3.9% |
| Volatility (annualized) | 20.7% | 22.9% |
| Max drawdown | -18.4% (Jan 2026→Oct 2026) | -25.6% (Apr 2022→Sep 2022) |

## Peers (REIT - Mortgage)
ORC (Orchid Island Capital, Inc.) USD 4.9 +0.62% · EFC (Ellington Financial Inc.) USD 11.63 +1.84% · ARI (Apollo Commercial Real Estate F) USD 6.3 -0.63% · BXMT (Blackstone Mortgage Trust, Inc.) USD 10.58 +3.73% · ARR (ARMOUR Residential REIT, Inc.) USD 12.69 -0.94% · CIM (Chimera Investment Corporation) USD 8.45 +2.55%

## More
Full page: https://nexqual.com/LADR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-10-16)

- "Such forward-looking statements are made only as of the date of this release. 1 Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.25 | $0.27 | -7.4% | $59.8M | 6 |
| Next quarter (ends 2027-03-31) | $0.26 | $0.29 | -10.7% | $56.3M | 5 |
| Current fiscal year (ends 2026-12-31) | $1.04 | $0.97 | +6.9% | $274.5M | 5 |
| Next fiscal year (ends 2027-12-31) | $1.09 | $1.17 | -7.0% | $269.5M | 7 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 17.8% | ±7.7% |
| 2027-02-19 | 119 | 37.4% | ±19.0% |