Ladder Capital Corp (LADR) Releases Earnings Results, Beats Expectations By $0.01 EPS
Ladder Capital Corp (NASDAQ:LADR) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01, Bloomberg Earnings reports. Ladder Capital Corp had a net margin of 15.32% and a return on equity of 3.93%. During the same period in the previous year, the firm earned $0.40 earnings per share.
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In related news, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $13.55, for a total value of $27,100,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Harris purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $13.41 per share, with a total value of $134,100.00. Following the acquisition, the chief executive officer now owns 544,558 shares in the company, valued at approximately $7,302,522.78. The disclosure for this purchase can be found here.
A number of brokerages have recently issued reports on LADR. BidaskClub cut shares of Ladder Capital Corp from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Zacks Investment Research raised shares of Ladder Capital Corp from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $16.00 price objective on shares of Ladder Capital Corp in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.75.
About Ladder Capital Corp
Ladder Capital Corp is a commercial real estate finance company. The Company’s segments include loans, securities, real estate and corporate/other. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans).
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