Ladder Capital's Q2 EPS rises on loan portfolio growth

Overview

• U.S. commercial real estate lender's Q2 distributable EPS rose

• GAAP diluted EPS for Q2 was $0.12

• Company grew loan portfolio and distributable earnings, book value remained stable

Outlook

• Company did not provide specific guidance for future quarters or the full yr in press release

Result Drivers

• LOAN PORTFOLIO GROWTH - Co said growth in its loan portfolio contributed to higher distributable earnings

• DIVERSIFIED INCOME SOURCES - Gains across multi-cylinder platform, including real estate operations and securities investments, supported results

Company press release: ID:nBw80plGYa

Key Details

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 28.2% above its July 22 closing price of $9.75

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• July 21 - Annaly Capital Q2 EPS rises sharply as securization activity hits record

• July 21 - Bank OZK's Q2 net income falls 8.7% yr/yr

• July 22 - ARMOUR Residential REIT Q2 net income rises, book value up 0.6%

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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.)