LADR on NYSE
Ladder Capital Corp
American real estate investment trust based in New York, active since 2013.
Price unavailable
Last updated Oct 18, 2026.
Overview
$63.7MNet income, fiscal 20252
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
4.3%Return on equity2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest income | $266.9M | $358.6M | $407.3M |
| Interest expense | $174.9M | $221.5M | $245.1M |
| Net interest income (expense) | $92.0M | $137.1M | $162.2M |
| Provision for (release of) loan loss reserves, net | -$157.0K | $13.9M | $25.1M |
| Net interest income (expense) after provision for (release of) loan loss reserves | $92.1M | $123.2M | $137.1M |
| Real estate operating income | $99.3M | $98.7M | $97.0M |
| Net result from mortgage loan receivables held for sale | $4.7M | $30.0K | -$523.0K |
| Gain (loss) on real estate, net | $3.8M | $25.3M | $8.8M |
| Fee and other income | $15.0M | $18.7M | $8.9M |
| Net result from derivative transactions | $1.8M | $5.4M | $1.5M |
| Earnings (loss) from investment in unconsolidated ventures | -$1.4M | -$79.0K | $758.0K |
| Gain on extinguishment of debt | $151.0K | $188.0K | $10.7M |
| Total other income (loss) | $123.4M | $148.2M | $127.1M |
| Compensation and employee benefits | $52.7M | $60.7M | $63.6M |
| Operating expenses | $19.4M | $19.2M | $19.5M |
| Real estate operating expenses | $40.5M | $40.6M | $37.6M |
| Investment related expenses | $3.7M | $7.7M | $8.8M |
| Depreciation and amortization | $32.0M | $32.3M | $29.9M |
| Total costs and expenses | $148.3M | $160.5M | $159.5M |
| Income (loss) before taxes | $67.2M | $110.9M | $104.7M |
| Effective income tax rate | $3.5M | $3.4M | $4.2M |
| Net income (loss) | $63.7M | $107.4M | $100.5M |
| Net (income) loss attributable to noncontrolling interests in consolidated ventures | $487.0K | $808.0K | $624.0K |
| Basic (in dollars per share) | $0.51 | $0.86 | $0.81 |
| Diluted (in dollars per share) | $0.51 | $0.86 | $0.81 |
| Basic (in shares) | 125.6M shares | 124.7M shares | |
| Diluted (in shares) | 125.8M shares | 124.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $38.0M | $1.3B | $1.0B | |
| Restricted cash | $14.9M | $12.6M | ||
| Mortgage loans receivable | $2.2B | $1.6B | ||
| Allowance for credit losses | -$47.1M | -$52.3M | ||
| Mortgage loan receivables held for sale | $28.0M | $26.9M | ||
| Securities | $2.1B | $1.1B | ||
| Real estate and related lease intangibles, net | $703.5M | $670.8M | ||
| Investments in and advances to unconsolidated ventures | $44.5M | $19.9M | ||
| Derivative instruments | $264.0K | $437.0K | ||
| Accrued interest receivable | $15.9M | $12.9M | ||
| Other assets | $49.0M | $158.1M | ||
| Total assets | $5.2B | $4.8B | $5.5B | |
| Debt obligations, net | $3.5B | $3.1B | ||
| Dividends payable | $31.8M | $31.8M | ||
| Accrued expenses | $76.4M | $74.8M | ||
| Other liabilities | $52.5M | $69.9M | ||
| Total liabilities | $3.7B | $3.3B | ||
| Commitments and contingencies (refer to Note 16) | $0 | $0 | ||
| Additional paid-in capital | $1.8B | $1.8B | ||
| Treasury stock, 3,557,032 and 2,776,538 shares, at cost | -$39.1M | -$30.5M | ||
| Retained earnings (dividends in excess of earnings) | -$260.1M | -$206.9M | ||
| Accumulated other comprehensive income (loss) | -$4.1M | -$4.9M | ||
| Total shareholders equity | $1.5B | $1.5B | ||
| Noncontrolling interests in consolidated ventures | -$2.6M | -$2.1M | ||
| Total equity | $1.5B | $1.5B | $1.5B | $1.5B |
| Total liabilities and equity | $5.2B | $4.8B | ||
| Treasury stock (in shares) | 3.6M shares | 2.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $38.0M | $1.3B | $1.0B | |
| Restricted cash | $14.9M | $12.6M | ||
| Mortgage loans receivable | $2.2B | $1.6B | ||
| Allowance for credit losses | -$47.1M | -$52.3M | ||
| Mortgage loan receivables held for sale | $28.0M | $26.9M | ||
| Securities | $2.1B | $1.1B | ||
| Real estate and related lease intangibles, net | $703.5M | $670.8M | ||
| Investments in and advances to unconsolidated ventures | $44.5M | $19.9M | ||
| Derivative instruments | $264.0K | $437.0K | ||
| Accrued interest receivable | $15.9M | $12.9M | ||
| Other assets | $49.0M | $158.1M | ||
| Total assets | $5.2B | $4.8B | $5.5B | |
| Debt obligations, net | $3.5B | $3.1B | ||
| Dividends payable | $31.8M | $31.8M | ||
| Accrued expenses | $76.4M | $74.8M | ||
| Other liabilities | $52.5M | $69.9M | ||
| Total liabilities | $3.7B | $3.3B | ||
| Commitments and contingencies (refer to Note 16) | $0 | $0 | ||
| Additional paid-in capital | $1.8B | $1.8B | ||
| Treasury stock, 3,557,032 and 2,776,538 shares, at cost | -$39.1M | -$30.5M | ||
| Retained earnings (dividends in excess of earnings) | -$260.1M | -$206.9M | ||
| Accumulated other comprehensive income (loss) | -$4.1M | -$4.9M | ||
| Total shareholders equity | $1.5B | $1.5B | ||
| Noncontrolling interests in consolidated ventures | -$2.6M | -$2.1M | ||
| Total equity | $1.5B | $1.5B | $1.5B | $1.5B |
| Total liabilities and equity | $5.2B | $4.8B | ||
| Treasury stock (in shares) | 3.6M shares | 2.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $63.7M | $107.4M | $100.5M |
| (Gain) loss on extinguishment of debt | -$151.0K | -$188.0K | -$10.7M |
| Depreciation and amortization | $32.0M | $32.3M | $29.9M |
| Unrealized (gain) loss on derivative instruments | $200.0K | $1.9M | $390.0K |
| Unrealized (gain) loss on securities | -$749.0K | $925.0K | -$25.0K |
| Provision for (release of) loan loss reserves, net | -$157.0K | $13.9M | $25.1M |
| Amortization of equity based compensation | $20.3M | $18.8M | $18.6M |
| Amortization of deferred financing costs included in interest expense | $9.6M | $10.6M | $12.4M |
| Amortization of (premium)/discount on mortgage loan financing included in interest expense | -$652.0K | -$767.0K | -$604.0K |
| Amortization of above- and below-market lease intangibles | -$1.3M | -$1.7M | -$1.8M |
| (Accretion)/amortization of discount, premium and other fees on mortgage loans receivable | -$10.2M | -$14.6M | -$19.0M |
| (Accretion)/amortization of discount and premium on securities | -$1.0M | -$1.1M | -$1.4M |
| Net result from mortgage loan receivables held for sale | -$4.7M | -$30.0K | $523.0K |
| Realized (gain) loss on securities | -$3.8M | -$172.0K | $276.0K |
| (Gain) loss on real estate, net | -$3.8M | -$25.3M | -$8.8M |
| Realized (gain) loss on sale of derivative instruments | $0 | -$298.0K | $291.0K |
| (Earnings) loss from investments in unconsolidated ventures in excess of distributions received | $1.4M | $79.0K | -$658.0K |
| Origination of mortgage loan receivables held for sale | -$63.4M | $0 | $0 |
| Repayment of mortgage loan receivables held for sale | $140.0K | $0 | $0 |
| Proceeds from sales of mortgage loan receivables held for sale | $66.8M | $0 | $0 |
| Change in deferred tax liability | $2.0M | $1.7M | $1.2M |
| Accrued interest receivable | -$3.0M | $11.3M | $706.0K |
| Other assets | -$3.1M | -$608.0K | $9.1M |
| Accrued expenses and other liabilities | -$13.3M | -$20.3M | $24.6M |
| Net cash provided by (used in) operating activities | $87.0M | $133.9M | $180.6M |
| Origination and funding of mortgage loan receivables held for investment | -$1.3B | -$195.2M | -$68.4M |
| Repayment of mortgage loan receivables held for investment | $711.0M | $1.6B | $738.5M |
| Purchases of securities | -$1.9B | -$898.0M | -$144.0M |
| Repayment of securities | $534.0M | $276.6M | $232.1M |
| Basis recovery of interest-only securities | $1.9M | $3.4M | $4.1M |
| Proceeds from sales of securities | $411.8M | $32.2M | $17.8M |
| Capital improvements of real estate | -$8.3M | -$6.5M | -$4.4M |
| Proceeds from sale of real estate | $13.1M | $102.3M | $13.4M |
| Capital contributions and advances to investment in unconsolidated joint ventures | -$26.0M | -$13.1M | $0 |
| Proceeds from FHLB stock | $0 | $5.2M | $4.4M |
| Purchase of derivative instruments | -$76.0K | -$1.1M | -$223.0K |
| Sale of derivative instruments | $0 | $574.0K | $125.0K |
| Net cash provided by (used in) investing activities | -$1.6B | $932.8M | $793.5M |
| Deferred financing costs paid | -$12.0M | -$18.3M | -$3.4M |
| Proceeds from borrowings under debt obligations | $4.6B | $668.0M | $921.0M |
| Repayment and repurchase of borrowings under debt obligations | -$4.2B | -$1.3B | -$1.3B |
| Cash dividends paid to Class A common shareholders | -$117.4M | -$117.7M | -$116.4M |
| Capital contributed by noncontrolling interests in consolidated ventures | $40.0K | $0 | $0 |
| Capital distributed to noncontrolling interests in consolidated ventures | -$31.0K | -$333.0K | -$541.0K |
| Payment of liability assumed in exchange for shares for the minimum withholding taxes on vesting restricted stock | -$8.7M | -$8.9M | -$7.9M |
| Repurchase of treasury stock | -$11.8M | -$6.5M | -$2.5M |
| Net cash provided by (used in) financing activities | $227.0M | -$796.6M | -$557.8M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -$1.3B | $270.1M | $416.3M |
| Cash paid (received) for income taxes | $3.5M | $1.9M | -$2.4M |
| Cash paid for interest, net of amounts capitalized | $157.5M | $199.4M | $233.6M |
| Securities purchased, not settled | $0 | $15.0K | $0 |
| Repurchase of treasury stock, not settled | $0 | $1.5M | $0 |
| Repayments in transit of securities (other assets) | $628.0K | $0 | $0 |
| Repayment in transit of mortgage loans receivable held for investment (other assets) | $0 | $102.0M | $7.9M |
| Non-cash disposition of loans via foreclosure | -$65.1M | -$53.0M | -$91.4M |
| Real estate and real estate held for sale acquired in settlement of mortgage loans receivable held for investment, net | $65.1M | $48.8M | $87.5M |
| Net settlement of sale of real estate, subject to debt - real estate | $0 | $0 | -$31.3M |
| Net settlement of sale of real estate, subject to debt - debt obligations | $0 | $0 | $31.3M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Ladder Capital Corp, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
201520202025
- ChairAlan H. Fishman Feb 5, 2014 to Feb 20, 201914
- PresidentPamela McCormack Dec 26, 2017 to now15
- PresidentMichael Mazzei Feb 5, 2014 to Feb 22, 201716
- Chief financial officerPaul J. Miceli Mar 3, 2021 to now17
- Chief financial officerMarc Fox Feb 5, 2014 to Jan 25, 202118
- Chief operating officerPamela McCormack Feb 14, 2017 to Feb 22, 201719
Board members and other officers (18)
- Chief Accounting OfficerAnthony Vincent Esposito May 12, 2022 to now20
- Chief Admin Off & Gen CounselKelly Amanda Porcella Nov 27, 2020 to now21
- Chief Accounting OfficerKevin Moclair Mar 3, 2015 to Feb 11, 202222
- Chief Investment OfficerGreta Guggenheim Feb 5, 2014 to Aug 20, 201523
- Chief Strategy Officer & GCPamela McCormack Feb 5, 2014 to Feb 25, 201624
- Head of Asset ManagementRobert Perelman Feb 5, 2014 to now25
- Head-Merchant Banking & Cap MkThomas Harney Feb 5, 2014 to Mar 11, 201926
- Board memberPamela McCormack Dec 10, 2019 to now27
- Board memberJeffrey B. Steiner Jul 23, 2018 to now28
- Board memberRichard L. O'Toole Mar 7, 2017 to Feb 20, 201929
- Board memberMichael Mazzei Jun 27, 2017 to Feb 26, 202030
- Board memberAlan H. Fishman Feb 19, 2015 to now31
- Board memberMark David Alexander Jun 11, 2015 to now32
- Board memberHoward Park Feb 5, 2014 to Mar 13, 201733
- Board memberJoel Clinton Peterson Feb 5, 2014 to Feb 19, 201534
- Board memberJonathan Bilzin Feb 5, 2014 to Feb 5, 201435
- Board memberGp L.p. Gi Iii. Feb 21, 2014 to Mar 13, 201736
- General counselKelly Amanda Porcella Mar 15, 2016 to Feb 26, 202037
Timeline
- May 21, 2013Founded Ladder Capital Corp is founded38
Filings
222 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 33 major events, 126 insider forms, 10 large holders, 33 other. The latest 20:
- Jul 27, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jun 15, 2026144/A EDGAR
- Jun 5, 20268-K EDGAR
- Jun 2, 2026144 EDGAR
- Jun 2, 20264 OWNERSHIP DOCUMENT EDGAR
- May 29, 2026144 EDGAR
- May 8, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 27, 202610-Q EDGAR
- Apr 23, 20268-K EDGAR
- Apr 21, 2026DEFA14A EDGAR
- Apr 21, 2026DEF 14A EDGAR
- Apr 21, 2026ARS EDGAR
- Mar 27, 2026SCHEDULE 13G/A EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
- Feb 23, 20264 OWNERSHIP DOCUMENT EDGAR
The 222 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 10 such filings since October 2021:
- Mar 27, 2026SCHEDULE 13G/A
- Feb 20, 2026SCHEDULE 13D/A
- Nov 14, 2024SC 13G
- Nov 12, 2024SC 13G
- Feb 13, 2024SC 13G/A
- Jan 26, 2024SC 13G/A
- Feb 9, 2023SC 13G/A
- Jan 31, 2023SC 13G/A
- Feb 10, 2022SC 13G/A
- Feb 3, 2022SC 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 10,416,299 | $103.6M | 0.0% | +446,987 |
| Jennison Associates LLC | 6,409,694 | $63.8M | 0.0% | −1,296,719 |
| Vanguard Portfolio Management LLC | 5,045,338 | $50.2M | 0.0% | +82,110 |
| Vanguard Capital Management LLC | 4,909,830 | $48.9M | 0.0% | −26,812 |
| Victory Capital Management Inc | 4,162,753 | $41.4M | 0.0% | +1,001,812 |
| Wellington Management Group Llp | 3,580,178 | $35.6M | 0.0% | +1,596,839 |
| Two Sigma Investments, LP | 3,096,940 | $30.8M | 0.0% | +284,937 |
| State Street Corp | 2,981,326 | $30.3M | 0.0% | +129,665 |
| Geode Capital Management, LLC | 2,897,106 | $28.8M | 0.0% | +92,838 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 2,795,427 | $27.8M | 0.0% | +89,020 |
| Jpmorgan Chase & Co | 2,659,315 | $27.2M | 0.0% | +928,643 |
| Goldman Sachs Group Inc | 2,539,285 | $25.3M | 0.0% | −206,223 |
| Nuveen, LLC | 2,081,812 | $20.7M | 0.0% | −26,250 |
| Adage Capital Partners Gp, L.l.c. | 1,750,000 | $17.4M | 0.0% | +650,000 |
| Russell Investments Group, Ltd. | 1,443,545 | $14.4M | 0.0% | +52,451 |
| Charles Schwab Investment Management Inc | 1,401,920 | $13.9M | 0.0% | −65,372 |
| Qube Research & Technologies Ltd | 1,169,228 | $11.6M | 0.0% | −186,166 |
| Northern Trust Corp | 1,125,507 | $11.2M | 0.0% | −68,766 |
| Van Eck Associates Corp | 1,123,098 | $11.2M | 0.0% | −217,956 |
| Allianz Asset Management GmbH | 1,027,255 | $10.2M | 0.0% | +97,147 |
| Balyasny Asset Management L.P. | 740,592 | $7.4M | 0.0% | +174,951 |
| Vanguard Fiduciary Trust Co | 722,025 | $7.2M | 0.0% | +22,304 |
| Focus Partners Wealth | 721,487 | $7.2M | 0.0% | +32,221 |
| Aptus Capital Advisors, LLC | 671,739 | $6.7M | 0.0% | +4,160 |
| Raymond James Financial Inc | 663,736 | $6.6M | 0.0% | −8,653 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGARAlan H. Fishman, Chair
- 15SEC EDGARPamela McCormack, President
- 16SEC EDGARMichael Mazzei, President
- 17
- 18SEC EDGARMarc Fox, Chief financial officer
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27SEC EDGARPamela McCormack, Board member
- 28SEC EDGARJeffrey B. Steiner, Board member
- 29SEC EDGARRichard L. O'Toole, Board member
- 30SEC EDGARMichael Mazzei, Board member
- 31SEC EDGARAlan H. Fishman, Board member
- 32SEC EDGARMark David Alexander, Board member
- 33SEC EDGARHoward Park, Board member
- 34SEC EDGARJoel Clinton Peterson, Board member
- 35SEC EDGARJonathan Bilzin, Board member
- 36SEC EDGARGp L.p. Gi Iii., Board member
- 37
- 38