Ladder Capital Q2: Net Income Slips to $14.6M as Loan Book Expands and Non-Accruals Halve
LADR is trading near its 52-week low of $9.43 (1.7% above the low).
Summary
Ladder Capital reported Q2 2026 net income of $14.6 million ($0.12/share) on a larger balance sheet, with non-accrual loans cut in half and a new $100 million buyback program in place.
Key Events · Earnings and Guidance · LADR
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Q2 Net Income Declines
Net income attributable to common shareholders was $14.6 million ($0.12 per share), down from $17.3 million ($0.14 per share) in Q2 2025, as higher interest expense and operating costs offset a 25% increase in interest income.
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Loan Portfolio Expands
Mortgage loan receivables held for investment grew to $2.79 billion from $2.22 billion at year-end 2025, driven by $1.03 billion in originations, partially offset by repayments and foreclosures.
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Credit Quality Improves
Non-accrual loans fell to $64.1 million from $129.7 million at year-end 2025, with the allowance for credit losses stable at $47.1 million, reflecting reduced credit stress.
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Liquidity Bolstered
The unsecured revolving credit facility was increased to $1.25 billion, and a new $275 million term loan facility was fully drawn, providing additional funding flexibility.
Analysis · LADR · Real Estate & Construction
Ladder Capital's Q2 2026 net income fell to $14.6 million from $17.3 million a year ago, as higher interest expense and operating costs more than offset a rise in interest income fueled by loan growth. The balance sheet expanded significantly — mortgage loan receivables held for investment jumped to $2.79 billion, and total assets reached $5.6 billion. Credit quality improved markedly: non-accrual loans dropped to $64.1 million from $129.7 million at year-end. The company also upsized its unsecured revolving credit facility to $1.25 billion and fully drew a new $275 million term loan, boosting liquidity. A $100 million stock buyback authorization signals confidence, with $91.9 million remaining. The stock trades near its 52-week low, making the buyback and credit improvement notable for investors.
At the time of this filing, LADR was trading at $9.59 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $9.43 to $11.92. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.