Is Ladder Capital Corp. overvalued or undervalued?

As of 6 May 2021, Ladder Capital Corp. moved from a risky to a very attractive valuation grade. The company appears undervalued, supported by a P/E ratio of 13, a Price to Book Value of 0.91, and an EV to EBIT of 2.84, all of which are significantly lower than its peers. For instance, Acadia Realty Trust has a P/E ratio of 57.50, while LTC Properties, Inc. shows an EV to EBITDA of 10.72, indicating that Ladder Capital Corp. is trading at a discount relative to these competitors.
The company's dividend yield of 8.48% and a strong ROCE of 30.29% further reinforce its attractiveness. However, it is noteworthy that Ladder Capital Corp. has underperformed the S&P 500 over various periods, particularly in the 1Y and 3Y returns, where it reported -5.88% and 2.52% compared to 17.14% and 70.41% for the index, respectively. This performance highlights the potential for upside as the market recognizes its value.