Wells Fargo & Company MN lowered its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,924 shares of the real estate investment trust’s stock after selling 10,747 shares during the quarter. Wells Fargo & Company MN’s holdings in Ladder Capital were worth $1,915,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of LADR. BlackRock Inc. boosted its position in Ladder Capital by 44.3% during the second quarter. BlackRock Inc. now owns 7,115,233 shares of the real estate investment trust’s stock worth $95,416,000 after purchasing an additional 2,183,991 shares in the last quarter. Vanguard Group Inc. boosted its position in Ladder Capital by 14.3% during the second quarter. Vanguard Group Inc. now owns 5,701,594 shares of the real estate investment trust’s stock worth $76,459,000 after purchasing an additional 712,583 shares in the last quarter. Boston Partners purchased a new position in Ladder Capital during the third quarter worth approximately $8,944,000. Prudential Financial Inc. boosted its position in Ladder Capital by 150.9% during the third quarter. Prudential Financial Inc. now owns 677,531 shares of the real estate investment trust’s stock worth $9,336,000 after purchasing an additional 407,530 shares in the last quarter. Finally, State Street Corp boosted its position in Ladder Capital by 50.6% during the second quarter. State Street Corp now owns 1,209,568 shares of the real estate investment trust’s stock worth $16,219,000 after purchasing an additional 406,141 shares in the last quarter. Institutional investors own 46.18% of the company’s stock.
Several research firms have recently weighed in on LADR. B. Riley restated a “buy” rating on shares of Ladder Capital in a research report on Friday, November 3rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $16.00 target price on shares of Ladder Capital in a research report on Friday, September 22nd. Bank of America upgraded Ladder Capital from a “neutral” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Ladder Capital from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Saturday, January 13th. Finally, BidaskClub downgraded Ladder Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.83.
Ladder Capital (NYSE:LADR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $69.30 million for the quarter, compared to the consensus estimate of $59.05 million. Ladder Capital had a return on equity of 9.78% and a net margin of 27.38%. During the same quarter last year, the business posted $0.40 earnings per share. sell-side analysts expect that Ladder Capital Corp will post 1.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 8.54%. The ex-dividend date was Friday, December 8th. This is an increase from Ladder Capital’s previous quarterly dividend of $0.30. Ladder Capital’s dividend payout ratio (DPR) is 144.83%.
Ladder Capital Profile
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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