Ladder Capital Corp reported GAAP income before taxes of $33.0 million for the fourth quarter of 2024, with diluted earnings per share (EPS) of $0.25. Distributable earnings for the quarter were $33.6 million, or $0.27 per distributable EPS, reflecting strong performance.
For the full year 2024, GAAP income before taxes reached $110.9 million, with diluted EPS of $0.86, and distributable earnings totaled $153.9 million, or $1.21 per distributable EPS. CEO Brian Harris highlighted that the company's middle-market business model successfully navigated 2024, marked by significant loan payoffs and strong credit performance.
As of December 31, 2024, Ladder maintained a robust liquidity position, including its upsized $850 million corporate revolving credit facility, enabling a focus on new investment opportunities in 2025. The company's securities portfolio significantly increased to $1.08 billion from $485.5 million in 2023, while mortgage loan receivables adjusted to $1.59 billion from $3.15 billion in 2023 due to payoffs.
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