NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (NYSE:LADR) (“we,” “Ladder,” or the “Company”) today
announced certain preliminary financial results for the fourth quarter
and year ended December 31, 2015. All 2015 figures in this release are
approximate due to the preliminary nature of this release.
Preliminary 2015 Results
Based on management’s analysis, we expect to report Core Earnings
between $47 million and $51 million for the fourth quarter and between
$188 million and $192 million for the year ended December 31, 2015 and
Core Earnings per Share between $0.41 and $0.47 per share for the fourth
quarter and between $1.81 and $1.87 per share for the year ended
December 31, 2015. We also expect to report Book Value per share between
$14.96 and $15.11 as of December 31, 2015, and between $13.58 and
$13.73, adjusted for the stock dividend distributed in January 2016.
These preliminary, unaudited results are based on management's initial
review of operations for the fourth quarter and year ended December 31,
2015 and remain subject to the completion of the Company's customary
annual closing and review procedures. Final adjustments and other
material developments may arise between the date of this press release
and the dates that the Company announces fourth quarter and year ended
December 31, 2015 results and the filing of the Company's Annual Report
on Form 10-K.
Stock Repurchases
Our Board Authorization Policy, adopted by the board of directors on
October 30, 2014, authorizes the Company to make up to $50.0 million in
repurchases of the Company’s Class A common stock from time to time
without further approval. Stock repurchases by the Company are generally
made for cash in open market transactions at prevailing market prices
but may also be made in privately negotiated transactions or otherwise.
The timing and amount of purchases are determined based upon prevailing
market conditions, our liquidity requirements, contractual restrictions
and other factors.
About Ladder
Ladder is an internally-managed real estate investment trust that is a
leader in commercial real estate finance. Ladder originates and invests
in a diverse portfolio of commercial real estate and real estate-related
assets, focusing on senior secured assets. Ladder’s investment
activities include: (i) direct origination of commercial real estate
first mortgage loans; (ii) investments in investment grade securities
secured by first mortgage loans on commercial real estate; and (iii)
investments in net leased and other commercial real estate. Founded in
2008, Ladder is run by a highly experienced management team with
extensive expertise in all aspects of the commercial real estate
industry, including origination, credit, underwriting, structuring,
capital markets and asset management. Led by Brian Harris, the Company’s
Chief Executive Officer, Ladder is headquartered in New York City and
has branches in Los Angeles and Boca Raton.
Forward-Looking Statements
Certain statements in this release may constitute “forward-looking”
statements. These statements are based on management’s current opinions,
expectations, beliefs, plans, objectives, assumptions or projections
regarding future events or future results. These forward-looking
statements are only predictions, not historical facts, and involve
certain risks and uncertainties, as well as assumptions. Investors are
cautioned to review the risks discussed under the heading “Risk Factors”
in the Company’s Annual Report on Form 10-K for the year ended December
31, 2014, as well as its consolidated financial statements, related
notes, and other financial information appearing therein, and its other
filings with the Securities and Exchange Commission.
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Investor Contact
Ladder Capital Corp Investor Relations
(917)
369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp