Ladder Capital Corp Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 08:30 am EST
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Ladder Capital Corp reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 23.1 million. Net income was USD 19.24 million. Basic earnings per share from continuing operations was USD 0.15. Diluted earnings per share from continuing operations was USD 0.15.
For the full year, sales was USD 96.95 million compared to USD 108.27 million a year ago. Net income was USD 101.13 million compared to USD 142.22 million a year ago. Basic earnings per share from continuing operations was USD 0.81 compared to USD 1.14 a year ago. Diluted earnings per share from continuing operations was USD 0.81 compared to USD 1.13 a year ago.
Ladder Capital Corp is a commercial real estate investment trust. The Company's segments include loans, securities, and real estate. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans). The securities segment is composed of all of the Companyâs activities related to commercial real estate securities, which include investments in commercial mortgage-backed securities (CMBS), United States Agency Securities, corporate bonds and equity securities. The real estate segment includes net leased properties, office buildings, student housing portfolios, hotels, industrial buildings, a shopping center and condominium units. Corporate/other includes the Companyâs investments in joint ventures, other asset management activities and operating expenses. It invests primarily in senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures.
LADDER CAPITAL CORP 
