Alliancebernstein L.P. decreased its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 614,861 shares of the real estate investment trust’s stock after selling 77,942 shares during the period. Alliancebernstein L.P. owned approximately 0.55% of Ladder Capital worth $10,416,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Private Advisor Group LLC bought a new position in shares of Ladder Capital during the 2nd quarter valued at about $157,000. State Board of Administration of Florida Retirement System bought a new position in shares of Ladder Capital during the 2nd quarter valued at about $205,000. Assetmark Inc. boosted its position in shares of Ladder Capital by 62.9% during the 2nd quarter. Assetmark Inc. now owns 14,023 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 5,414 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Ladder Capital by 26.3% in the second quarter. Commonwealth Equity Services LLC now owns 19,148 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 3,982 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Ladder Capital in the third quarter worth about $308,000. Institutional investors own 52.29% of the company’s stock.
Several research analysts have commented on the stock. B. Riley set a $18.00 target price on shares of Ladder Capital and gave the stock a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Ladder Capital from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Thursday, October 25th. Finally, JPMorgan Chase & Co. cut shares of Ladder Capital from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Wednesday, October 24th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.81.
NYSE LADR opened at $17.22 on Friday. The company has a quick ratio of 74.92, a current ratio of 74.92 and a debt-to-equity ratio of 3.06. The company has a market capitalization of $1.95 billion, a PE ratio of 12.66 and a beta of 0.87. Ladder Capital Corp has a 52-week low of $13.40 and a 52-week high of $17.96.
Ladder Capital (NYSE:LADR) last issued its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. The firm had revenue of $135.10 million for the quarter, compared to analyst estimates of $72.17 million. Ladder Capital had a net margin of 31.29% and a return on equity of 13.85%. During the same quarter last year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Ladder Capital Corp will post 1.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Monday, December 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 13.24%. The ex-dividend date is Friday, December 7th. This is a positive change from Ladder Capital’s previous quarterly dividend of $0.33. Ladder Capital’s dividend payout ratio (DPR) is presently 95.59%.
About Ladder Capital
Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning.
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