Ladder Capital Corp Reports Q3 2025 Financial Results with $19.2 Million Net Income

Ladder Capital Corp reported its financial results for the third quarter of 2025, revealing a net income of $19.2 million, or $0.15 per share, compared to $27.9 million, or $0.22 per share, in the same period last year. For the nine months ending September 30, 2025, the company recorded a net income of $47.8 million, down from $76.1 million in the prior year. Total revenue for the quarter was $57.5 million, a decrease from $69.9 million in Q3 2024, primarily driven by a decline in interest income, which fell to $71.8 million from $96.1 million year-over-year. The company’s interest expense also decreased to $44.0 million from $57.7 million, contributing to a net interest income of $27.8 million, down from $38.4 million in the previous year.

In terms of operational changes, Ladder Capital's total assets decreased to $4.69 billion as of September 30, 2025, from $4.85 billion at the end of 2024. The decline was attributed to a reduction in cash and cash equivalents, which fell significantly from $1.32 billion to $49.4 million, reflecting a strategic shift in capital allocation. The company’s mortgage loan receivables held for investment increased to $1.92 billion, up from $1.59 billion at the end of 2024, indicating a focus on expanding its lending portfolio. Additionally, the company reported a total of 127.3 million shares of Class A common stock outstanding as of October 17, 2025.

Strategically, Ladder Capital has been active in the real estate market, acquiring properties through foreclosure, including two office buildings in Indiana and Maryland, valued at a total of $65.1 million. The company also reported a gain of $3.8 million from the sale of a retail property in Oklahoma. The firm continues to maintain a diversified portfolio, with a focus on senior secured assets, and has emphasized its commitment to managing risk through a disciplined approach to underwriting and capital allocation.

Looking ahead, Ladder Capital remains cautious about the macroeconomic environment, which includes potential impacts from rising interest rates and market volatility. The company has indicated that it will continue to monitor its loan portfolio closely, particularly in light of the current expected credit loss model it employs for estimating loan losses. The management expressed confidence in its ability to navigate these challenges while maintaining its REIT status and delivering value to shareholders through consistent dividend payments. The company has declared a quarterly dividend of $0.23 per share, consistent with previous distributions, reflecting its commitment to returning capital to shareholders.