Ladder Capital (LADR) Investor presentation summary

Investment highlights

• Delivers a ~9.5% dividend yield, supported by recurring cash flows and a stable, cycle-tested management team.

• Management and board own over 13% of shares, ensuring strong shareholder alignment.

• Only investment grade-rated CRE finance REIT, with IG bond market access and a superior liability structure.

• Over $52 billion invested since inception, with realized losses of just 0.1% since 2008.

• More than 85% of assets are senior-secured or IG-rated, providing enhanced downside protection.

Business model and portfolio

• Focuses on commercial real estate credit through a multi-cylinder strategy: loans, securities, and equity.

• $5.8B in CRE investments, with 49% in loans, 33% in securities, and 18% in equity.

• Maintains a fortress balance sheet, with 67% unsecured debt and 73% unencumbered assets.

• Average executive team experience is 30 years, and insider ownership is valued at over $155M.

• Stock buyback program of $100M, with $24M repurchased in the last twelve months.

Performance and returns

• Achieved 32% book value outperformance and 33% total returns over five years.

• Maintains a current dividend yield of 9.4%, outperforming peers and indices.

• Demonstrates resilience through rate hike cycles and market disruptions.