Ladder Capital Corp (NYSE:LADR – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.41 and last traded at $9.43, with a volume of 148709 shares traded. The stock had previously closed at $9.64.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Wall Street Zen upgraded Ladder Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Ladder Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods dropped their price objective on Ladder Capital from $11.00 to $10.75 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Finally, Bank of America restated a “neutral” rating and issued a $10.25 target price on shares of Ladder Capital in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ladder Capital currently has a consensus rating of “Hold” and an average target price of $12.36.
Read Our Latest Stock Report on Ladder Capital
Ladder Capital Trading Up 2.5%
Ladder Capital (NYSE:LADR – Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Ladder Capital had a net margin of 12.62% and a return on equity of 5.92%. The business had revenue of $57.76 million for the quarter, compared to analysts’ expectations of $56.50 million. During the same period in the previous year, the company posted $0.23 earnings per share. On average, analysts predict that Ladder Capital Corp will post 0.72 earnings per share for the current year.
Ladder Capital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 9.4%. Ladder Capital’s dividend payout ratio (DPR) is 219.05%.
Insider Transactions at Ladder Capital
In other news, insider Robert Perelman sold 17,505 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $10.25, for a total transaction of $179,426.25. Following the completion of the transaction, the insider owned 428,684 shares in the company, valued at approximately $4,394,011. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.60% of the company’s stock.
Institutional Investors Weigh In On Ladder Capital
Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Ladder Capital by 111.7% in the 1st quarter. AQR Capital Management LLC now owns 22,189 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 11,709 shares during the period. Caxton Associates LLP acquired a new position in shares of Ladder Capital during the first quarter valued at $209,000. Jane Street Group LLC increased its holdings in shares of Ladder Capital by 997.0% during the first quarter. Jane Street Group LLC now owns 180,230 shares of the real estate investment trust’s stock valued at $2,056,000 after purchasing an additional 163,800 shares during the period. Norges Bank acquired a new stake in Ladder Capital in the second quarter worth about $1,133,000. Finally, Marshall Wace LLP bought a new position in Ladder Capital in the 2nd quarter valued at about $183,000. Institutional investors own 62.25% of the company’s stock.
About Ladder Capital
Ladder Capital Corp (NYSE: LADR) is a publicly traded commercial real estate finance company structured as a real estate investment trust. The firm specializes in originating, acquiring and managing a diversified portfolio of commercial mortgage loans, subordinate financings such as mezzanine loans and B-notes, and equity investments. In addition to direct lending activities, Ladder Capital invests in and manages commercial mortgage‐backed securities (CMBS) and commercial real estate collateralized loan obligations (CRE CLOs), providing financing across a range of property types including office, retail, multifamily, industrial and hospitality assets.
Since its inception in 2008, Ladder Capital has developed a platform that supports both balance-sheet lending and structured securitization.
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