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NEW YORK (AP) — NEW YORK (AP) — Ladder Capital Corp. (LADR) on Thursday reported fourth-quarter net income of $59.6 million.
The New York-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring gains, were 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The commercial real estate mortgage origination and finance company posted revenue of $176.7 million in the period. Its adjusted revenue was $119.3 million.
For the year, the company reported profit of $142.2 million, or $1.13 per share. Revenue was reported as $349 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a LADR">Zacks stock report on LADR at https://www.zacks.com/ap/LADR