Ladder Capital Corp reported its financial results for the second quarter of 2025, revealing a net income of $17.1 million, or $0.14 per share, a decrease from $32.1 million, or $0.26 per share, in the same period last year. For the first half of 2025, the company recorded a net income of $28.7 million, down from $48.6 million in the prior year. Total revenue for the quarter was $62.7 million, compared to $88.5 million in Q2 2024, reflecting a significant decline in interest income, which fell to $62.7 million from $88.5 million year-over-year. The decrease in revenue was attributed to a reduction in the average loan portfolio and lower interest rates impacting income from mortgage loans.
In terms of operational metrics, Ladder Capital's mortgage loan receivables held for investment increased slightly to $1.6 billion as of June 30, 2025, from $1.59 billion at the end of 2024. The company also reported a provision for loan loss reserves of $0.1 million for the first half of 2025, a significant decrease from $10.8 million in the same period last year. The allowance for credit losses stood at $52.2 million, consistent with the previous quarter. The company’s real estate operating income was $25.8 million, slightly lower than the $26.1 million reported in Q2 2024.
Strategically, Ladder Capital has been active in the market, acquiring an office portfolio in Carmel, Indiana, valued at $42.4 million through foreclosure in April 2025. The company also sold a retail property in Jenks, Oklahoma, for $13.1 million during the quarter. As of June 30, 2025, Ladder Capital's total assets were reported at $4.46 billion, down from $4.85 billion at the end of 2024, primarily due to a decrease in cash and cash equivalents, which fell to $134.9 million from $1.32 billion.
Looking ahead, Ladder Capital remains focused on maintaining its position in the commercial real estate finance sector, leveraging its diversified financing strategies, including senior unsecured notes and a revolving credit facility. The company has a robust pipeline of unfunded commitments totaling $47.9 million, which it plans to utilize for future loan originations. The management expressed confidence in navigating the current economic landscape, emphasizing its commitment to delivering value to shareholders while managing risks associated with market volatility and interest rate fluctuations.
About Ladder Capital Corp
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