STWD - Ladder Capital: The Dividend Should Be Safe In 2024 Buy The Drop (Rating Upgrade)
2024-05-30 10:54:40 ET
Summary
- Ladder Capital's stock is trading at a higher discount to book value after Starwood tightened redemption restrictions for its non-traded REIT, SREIT, last week.
- Ladder Capital is performing well and has only 16% exposure to the office market.
- Ladder Capital's key strength is its well-supported dividend.
- The 8% discount improves the value proposition and makes the dividend yield even more attractive, in my opinion.
Ladder Capital ( LADR ) is trading at a higher discount to book value after a rival, Starwood Property Trust ( STWD ) announced stricter redemption requirements for one of its non-traded REITs, the Starwood Real Estate Income Trust last week. These redemption restrictions reignited new concerns about the health of the portfolios of CRE-focused REITs, including Ladder Capital....
Ladder Capital: The Dividend Should Be Safe In 2024, Buy The Drop (Rating Upgrade)