NEW YORK - Ladder Capital Corp (NYSE: NYSE:LADR), a commercial real estate investment trust, announced today that its board of directors has declared a third-quarter 2024 dividend. The dividend, set at $0.23 per share of Class A common stock, is scheduled to be paid on October 15, 2024, to shareholders of record by September 30, 2024.
Ladder Capital, with assets totaling $5.0 billion as of June 30, 2024, focuses on preserving shareholder capital while aiming for attractive risk-adjusted returns. The company is recognized as a significant provider of commercial real estate capital and is known for its underwriting and flexible capital solutions. Ladder's investment strategy encompasses originating senior first mortgage loans, owning and operating commercial real estate, and investing in investment-grade securities backed by first mortgage loans on commercial real estate.
The firm, established in 2008 and headquartered in New York City, operates with a seasoned management team skilled in various facets of the commercial real estate sector. The team's expertise spans origination, credit, underwriting, structuring, capital markets, and asset management. Notably, Ladder's management and board of directors have a substantial stake in the company, owning over 11% of its equity.
While the announcement reflects the company's current financial distributions, it's important to note that Ladder's forward-looking statements are based on management's expectations and are subject to risks and uncertainties. The actual results could differ materially from those anticipated in these statements due to various factors, including those detailed in the company's filings with the U.S. Securities and Exchange Commission.
The information in this article is based on a press release statement from Ladder Capital Corp.
InvestingPro Insights
Ladder Capital Corp's recent declaration of a third-quarter 2024 dividend is a testament to the company's commitment to shareholder returns. The InvestingPro Tips highlight that Ladder Capital not only pays a significant dividend to shareholders but has also maintained these payments for 10 consecutive years, underlining the firm's consistency and reliability in rewarding its investors. Additionally, Ladder Capital's stock price movements are known to be quite volatile, which may appeal to certain investors looking for dynamic trading opportunities.
From a financial perspective, Ladder Capital's market capitalization stands at $1.54 billion, showcasing its substantial presence in the commercial real estate investment trust sector. The company's Price to Earnings (P/E) ratio, as of the last twelve months leading up to Q2 2024, is 15.67, which might indicate a fair valuation relative to earnings. Moreover, the Dividend Yield as of late June 2024 is an impressive 7.63%, further emphasizing the company's attractive dividend policy. This robust yield, combined with the fact that Ladder Capital's liquid assets exceed its short-term obligations, suggests a healthy financial position that supports ongoing dividend payments.
For those interested in deeper insights, InvestingPro offers additional tips on LADR, which can provide more nuanced investment guidance. There are currently 6 additional InvestingPro Tips available for Ladder Capital, which can help investors make informed decisions based on a comprehensive analysis of the company's financial health and market performance.
As Ladder Capital continues to navigate the commercial real estate market, these insights and data points from InvestingPro could be invaluable to investors who are considering adding LADR to their portfolios or who are monitoring their current investments in the company.
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