Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.10, read 2026-11-02
Ethical does not pass the values gate
Price9.36 USD
Fair value13.50
Ethical score30.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-29Read Markup9.35+0.1% to today ✓Distribution gives way to Markup first Markup read since September
2026-10-11Read Distribution9.09+3.0% to today Markdown gives way to Distribution
2026-10-02Read Markdown9.09+3.0% to today Markup gives way to Markdown after a 10% slide in 4 weeks
2026-09-04Read Markup10.10-7.3% to today Distribution gives way to Markup while volume is distributing
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Ladder Capital Corp holds its Markup at $9.36. Consolidating, no directional conviction, held for 7 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 7 days
Price at the screen
$9.36
Valuation
11.69 trailing · 8.69 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.03
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: mortgage
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: mortgage
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Ladder Capital does not clear the screen at the business-activity stage. It operates in an area the screen excludes: mortgage, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when LADR's ethical verdict changes
Today LADR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 33% discount to our $13.50 fair value, 96.40% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 30.7% discount to the base estimate.
Where our models see it going: fair-value estimate $13.50, with a range of $12.91 to $18.22, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Mortgage Lender Looks Cheap But We Pass
Picture a property owner in the Midwest rolling over a loan to keep the lights on. The money moves through vehicles like this one, packaging real estate debt into returns for investors. We pass outright. The ethical screen flags the mortgage focus, and that alone ends the conversation before the numbers get a look in.
The business shows a forward P/E of 8.5 times alongside 2 percent revenue growth and a 25 percent profit margin. Return on equity sits at just 4 percent, which tells its own story about thin returns even before any market stress hits. Fair value sits 34 percent above the current price of 10.04 dollars, yet the opportunity rating stays at none.
Risks start with that ethical block and run into the low growth and meagre returns on equity that leave little cushion if property values or interest rates turn. Mortgage REITs often trade at depressed multiples for good reason. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LADR trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup$9.36+0.1%Entry 17
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12.
2026-10-29Markup · changed$9.35+8.3%Entry 16
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12.
2026-10-22Distribution$8.63+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$8.63+0.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Distribution$8.63+0.0%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Distribution$8.63+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Distribution$8.63+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Distribution$8.63+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Distribution$8.63+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Distribution$8.63-5.1%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 5.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (7 analysts) rates it none, with a mean price target of $12. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
