Added to YB: 2020-04-22
Pitch date: 2020-04-22
LADR [bullish]
Ladder Capital Corp
+131.18%
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
$1.3B
Pitch Price
$4.23
Price Target
N/A
Dividend
9.34%
EV/EBITDA
N/A
P/E
19.31
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 at 50% of BV. Insiders own 11%. Senior secured loans (50% retail/hospitality), AAA CMBS (TALF-eligible). Unsecured bonds & term repo financing (vs CLOs) allow borrower flexibility. $600M cash, $2.3B unencumbered assets. 20% yield, cut likely. Risks: CMBS prices, CRE exposure. Upside: 75-80% of BV.
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