Ladder Capital Corp reported GAAP income before taxes of $10.7 million for the first quarter of 2025, with diluted earnings per share (EPS) of $0.09. Distributable earnings for the quarter were $25.5 million, or $0.20 per distributable EPS.
The company's board of directors authorized an increase in the share repurchase program to $100.0 million, raising the remaining outstanding authorization from $66.8 million. This move signals management's confidence in the company's intrinsic value and commitment to returning capital to shareholders.
CEO Brian Harris noted that Ladder's balance sheet remains strong after a year of record loan payoffs in 2024, with new loan originations outpacing payoffs in Q1 2025. The company held over $1.3 billion in total liquidity as of March 31, 2025, including $480 million in cash and an undrawn $850 million revolving credit facility, actively deploying capital into new loans and AAA securities.
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