Riverbridge Partners LLC purchased a new stake in shares of Ladder Capital Corp (NYSE:LADR – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 156,430 shares of the real estate investment trust’s stock, valued at approximately $1,366,000. Riverbridge Partners LLC owned approximately 0.12% of Ladder Capital at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Ladder Capital by 80.5% in the 2nd quarter. Wellington Management Group LLP now owns 3,580,178 shares of the real estate investment trust’s stock valued at $35,623,000 after purchasing an additional 1,596,839 shares during the last quarter. State Street Corp grew its holdings in shares of Ladder Capital by 4.5% during the second quarter. State Street Corp now owns 2,981,326 shares of the real estate investment trust’s stock worth $30,331,000 after purchasing an additional 129,665 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Ladder Capital by 10.4% during the second quarter. Allianz Asset Management GmbH now owns 1,027,255 shares of the real estate investment trust’s stock worth $10,221,000 after purchasing an additional 97,147 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ladder Capital by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 515,529 shares of the real estate investment trust’s stock worth $5,037,000 after purchasing an additional 15,899 shares during the last quarter. Finally, Access Investment Management LLC increased its stake in shares of Ladder Capital by 18.3% in the third quarter. Access Investment Management LLC now owns 571,897 shares of the real estate investment trust’s stock valued at $4,993,000 after buying an additional 88,451 shares in the last quarter. 62.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. B. Riley Financial restated a “buy” rating on shares of Ladder Capital in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Ladder Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Ladder Capital from $10.75 to $10.25 and set an “outperform” rating on the stock in a report on Friday, October 9th. Zacks Research raised shares of Ladder Capital from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Bank of America restated a “neutral” rating and issued a $10.25 price objective on shares of Ladder Capital in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.29.
Read Our Latest Research Report on LADR
Ladder Capital Stock Performance
Shares of Ladder Capital stock opened at $8.70 on Thursday. The company has a debt-to-equity ratio of 2.98, a current ratio of 49.90 and a quick ratio of 49.89. The firm has a 50 day simple moving average of $9.16 and a 200 day simple moving average of $9.88. Ladder Capital Corp has a fifty-two week low of $8.48 and a fifty-two week high of $11.48. The firm has a market cap of $1.10 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.89 and a beta of 0.96.
Ladder Capital (NYSE:LADR – Get Free Report) last posted its quarterly earnings data on Friday, October 16th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Ladder Capital had a return on equity of 6.98% and a net margin of 23.70%. The firm had revenue of $118.90 million for the quarter, compared to the consensus estimate of $79.67 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts predict that Ladder Capital Corp will post 0.82 earnings per share for the current fiscal year.
Ladder Capital Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend was Wednesday, September 30th. Ladder Capital’s dividend payout ratio (DPR) is 115.00%.
About Ladder Capital
Ladder Capital Corp. is a commercial real estate finance company organized as a real estate investment trust. It originates and invests in loans and other assets tied to commercial properties, with a focus on first mortgage loans secured by real estate. The company also invests in commercial mortgage-backed securities and U.S. government securities, and owns commercial real estate. Its lending and investment activities span property types and markets across the United States. Founded in 2008, Ladder Capital is headquartered in New York.
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