Commercial real estate lender Ladder Capital (NYSE: LADR) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Ladder Capital missed analysts’ revenue expectations by 7.1% last quarter, reporting revenues of $51.28 million, down 18.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ tangible book value per share estimates and a significant miss of analysts’ EPS estimates.
Is Ladder Capital a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ladder Capital’s revenue to decline 21.6% year on year to $56.18 million, a reversal from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ladder Capital has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Ladder Capital’s peers in the thrifts & mortgage finance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PennyMac Mortgage Investment Trust’s revenues decreased 1.4% year on year, missing analysts’ expectations by 26.1%, and AGNC Investment reported a revenue decline of 367%, falling short of estimates by 141%. AGNC Investment traded up 1.5% following the results.
Read our full analysis of PennyMac Mortgage Investment Trust’s results here and AGNC Investment’s results here.
There has been positive sentiment among investors in the thrifts & mortgage finance segment, with share prices up 8.2% on average over the last month. Ladder Capital is up 2.4% during the same time and is heading into earnings with an average analyst price target of $12.79 (compared to the current share price of $11.02).
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