Added to YB: 2020-08-22
Pitch date: 2020-08-22
LADR [bullish]
Ladder Capital Corp
+138.46%
current return
Author Info
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Company Info
Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States.
Market Cap
$1.4B
Pitch Price
$4.77
Price Target
N/A
Dividend
8.60%
EV/EBITDA
N/A
P/E
16.99
EV/Sales
N/A
Sector
Mortgage Real Estate Investment Trusts (REITs)
Category
value
Ladder Capital: Internally Managed mREIT, No CRE CLO Debt
LADR: Internally-managed mREIT, no CRE CLO debt. Insider-aligned mgmt, senior secured portfolio (AAA CMBS eligible for Fed TALF), unsecured & term repo financing allows borrower modifications. 50% of Q4 book, risks in retail/hospitality loans. $600M cash, $2.3B unencumbered assets. Dividend cut likely, but should survive at 75-80% book. Safer mREIT rebound play.
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