Principal Financial Group Inc. cut its holdings in Ladder Capital Corp (NYSE:LADR – Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 931,134 shares of the real estate investment trust’s stock after selling 915 shares during the period. Principal Financial Group Inc. owned approximately 0.73% of Ladder Capital worth $10,103,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in LADR. Norges Bank bought a new position in shares of Ladder Capital in the 4th quarter worth about $10,883,000. Millennium Management LLC grew its stake in shares of Ladder Capital by 233.4% in the 2nd quarter. Millennium Management LLC now owns 1,498,869 shares of the real estate investment trust’s stock valued at $15,798,000 after buying an additional 1,049,301 shares during the period. Royal Bank of Canada grew its stake in shares of Ladder Capital by 1,329.3% in the 1st quarter. Royal Bank of Canada now owns 1,062,319 shares of the real estate investment trust’s stock valued at $12,610,000 after buying an additional 987,995 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ladder Capital by 1,751.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 943,885 shares of the real estate investment trust’s stock valued at $8,920,000 after buying an additional 892,898 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Ladder Capital by 29.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,424,731 shares of the real estate investment trust’s stock valued at $22,914,000 after buying an additional 551,241 shares during the period. 60.93% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on LADR. BTIG Research raised their target price on Ladder Capital from $10.00 to $12.50 and gave the company a “buy” rating in a research note on Monday, July 24th. StockNews.com upgraded Ladder Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, November 8th. JMP Securities raised their target price on Ladder Capital from $12.00 to $13.00 in a research note on Thursday, July 27th. Finally, Raymond James downgraded Ladder Capital from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $12.00 to $12.50 in a research note on Thursday, July 27th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.00.
Ladder Capital Price Performance
LADR stock opened at $11.08 on Tuesday. The company has a market capitalization of $1.41 billion, a P/E ratio of 9.72 and a beta of 1.91. The company has a debt-to-equity ratio of 2.47, a quick ratio of 66.82 and a current ratio of 66.82. Ladder Capital Corp has a 52-week low of $8.76 and a 52-week high of $11.77. The business has a 50-day simple moving average of $10.25 and a two-hundred day simple moving average of $10.40.
Ladder Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a $0.23 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.30%. Ladder Capital’s payout ratio is presently 80.70%.
Ladder Capital Company Profile
Ladder Capital Corp operates as an internally-managed 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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