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Ladder Capital: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

NEW YORK (AP) _ Ladder Capital Corp. (LADR) on Tuesday reported a first-quarter loss of $15.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 15 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 26 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The commercial real estate mortgage origination and finance company posted revenue of $101.6 million in the period. Its adjusted revenue was $50.2 million.

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Ladder Capital shares have decreased 57% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.77, a drop of 56% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LADR at https://www.zacks.com/ap/LADR