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Commercial real estate finance company that originates CRE loans, owns net-lease properties and holds securities.
Commercial real estate finance company that originates CRE loans, owns net-lease properties and holds securities.
Earns interest on loans to commercial property owners, rent from net-lease properties where tenants pay most building costs, and interest on bonds backed by commercial mortgages, so profit is the spread between that income and its funding cost. It funds itself partly with long-term unsecured bonds, after winning investment-grade ratings. Taxed as a REIT, it passes most taxable income to shareholders.
Moat: narrow (process know-how). Internally managed with in-house underwriting spanning loans, leases and securities.
Headquarters: New York, New York, US · Founded: 2008 · Employees: 60
Size Ladder Capital (LADR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $1.12B, the 2178th largest of 3,117 United States companies the cockpit tracks. Shares closed at $8.91 on 6 Nov 2026.
Performance Over six months the shares fell 13.2%, against -14.4% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 2.4% over the last twelve months (peer median +1.5%); the operating margin is 58.4% (peer median 40.9%).
Valuation It trades at 0.77× book value against a peer median of 0.91× (8th cheapest of 21).
Price implies The share price implies a return on equity of about 8.3%; Ladder Capital delivers 6.7%, so the price asks more than the business earns today.
Short interest Short interest is 6.1% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $423M | $392M | $511M | $525M | $544M |
| Revenue growth | — | -23% | -3% | -3% | — |
| Gross profit | $334M | $315M | $429M | $447M | $463M |
| EBITDA | $283M | $277M | $380M | $395M | $402M |
| Net income | $98.9M | $64.2M | $108M | $101M | $142M |
| Free cash flow | $78.5M | $78.7M | $127M | $176M | $102M |
| Capital expenditure | $9.17M | $8.34M | $6.50M | $4.37M | $6.95M |
| Total debt | $4.36B | $3.52B | $3.15B | $3.81B | $4.26B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Ladder Capital LADR | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% |
| Blackstone Mortgage Trust BXMT | $1.85B | -42% | -2% | -12% | 0.65× | 7.3% |
| Starwood Property Trust STWD | $4.46B | -32% | +11% | 3% | 0.69× | 8.0% |
| Apollo Commercial Real Estate Finance ARI | n/a | -79% | n/a | n/a | n/a | n/a |
| KKR Real Estate Finance Trust KREF | $327M | -14% | -21% | -19% | 0.56× | 6.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LADR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | -1.6% | 6th highest of 21 |
| 6-month return | -13.2% | -14.4% | 10th highest of 21 |
| Return on equity | 6.7% | 5.9% | 8th highest of 21 |
| Price / book | 0.77× | 0.91× | 8th cheapest of 21 |
| Trailing P/E | 11.3× | 16.2× | 5th cheapest of 16 |
| ROE the price implies | 8.3% | 5.5% | 7th most demanding of 21 |
| ROE delivered | 6.7% | 6.0% | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% | 6.7% |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | -5% | 1.05× | 16.3% | -5.3% |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 9% | 1.37× | 5.2% | 8.6% |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 4% | 0.69× | 8.7% | 3.9% |
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% | 5.3% |
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% | 1.0% |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 6% | 1.15× | 4.8% | 6.1% |
| Altareit AREIT.PA | France | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% | -5.4% |
| Heiwa Real Estate REIT 8966.T | Japan | $1.06B | -15% | +24% | 8% | 1.15× | 5.5% | 8.4% |
| Fortune Real Estate Investment Trust 0778.HK | Hong Kong | $1.19B | -11% | -9% | 0% | 0.37× | 4.5% | -0.3% |
| Waypoint REIT WPR.AX | Australia | $1.05B | -2% | -1% | 7% | 0.80× | 8.8% | 6.8% |
| Storage King SKG.AX | Australia | $1.05B | -17% | 0% | 7% | 0.64× | 7.8% | 6.5% |
| SK REIT 395400.KS | South Korea | $1.04B | -30% | +15% | 6% | 0.73× | 4.8% | 5.7% |
| Japan Excellent 8987.T | Japan | $1.04B | -13% | -18% | 6% | 1.09× | 4.6% | 6.0% |
| Daiwa Securities Living Investment 8986.T | Japan | $1.22B | -25% | +42% | 7% | 1.02× | 5.4% | 7.1% |
| Mitsui Fudosan Retail Fund Investment 8964.T | Japan | $1.23B | -16% | -6% | 7% | 1.10× | 4.6% | 6.8% |
| CapitaLand India Trust CY6U.SI | Singapore | $1.03B | -15% | -2% | 16% | 0.71× | 5.0% | 15.7% |
| Hulic Reit 3295.T | Japan | $1.23B | -17% | +5% | 6% | 0.96× | 4.6% | 5.9% |
| Piedmont Realty Trust PDM | United States | $1.23B | +18% | +3% | -6% | 0.85× | 10.5% | -5.9% |
| Cpi Fim OPG.WA | Poland | $1.00B | -16% | -35% | 11% | 0.58× | 5.9% | 11.1% |
| UMH Properties UMH | United States | $1.28B | -6% | +9% | 3% | 2.37× | 18.9% | 2.8% |