Van ECK Associates Corp reduced its stake in shares of Ladder Capital Corp (NYSE:LADR – Free Report) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,123,098 shares of the real estate investment trust’s stock after selling 217,956 shares during the quarter. Van ECK Associates Corp’s holdings in Ladder Capital were worth $11,175,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of 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 worth $35,623,000 after purchasing an additional 1,596,839 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Ladder Capital during the second quarter valued at about $27,000. Jupiter Topco LLC bought a new position in Ladder Capital in the second quarter worth about $543,000. Jones Financial Companies Lllp raised its stake in Ladder Capital by 65.2% in the second quarter. Jones Financial Companies Lllp now owns 6,961 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 2,748 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Ladder Capital in the second quarter worth about $220,000. 62.25% of the stock is currently owned by institutional investors.
Ladder Capital Price Performance
Shares of Ladder Capital stock opened at $9.82 on Tuesday. The company has a debt-to-equity ratio of 2.81, a current ratio of 44.15 and a quick ratio of 44.15. The company has a 50-day moving average of $9.88 and a 200 day moving average of $10.06. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.05 and a beta of 0.95. Ladder Capital Corp has a 1 year low of $9.38 and a 1 year high of $11.92.
Ladder Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 9.4%. The ex-dividend date was Tuesday, June 30th. Ladder Capital’s dividend payout ratio (DPR) is presently 219.05%.
Wall Street Analyst Weigh In
Several research firms have weighed in on LADR. Keefe, Bruyette & Woods cut their price objective on Ladder Capital from $11.00 to $10.75 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Ladder Capital in a research report on Friday, August 7th. Finally, Bank of America restated a “neutral” rating and issued a $10.25 target price on shares of Ladder Capital in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.36.
Get Our Latest Stock Report on LADR
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 mortgageābacked 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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