Zacks Investment Research upgraded shares of Ladder Capital (NYSE:LADR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $17.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Ladder Capital Corp is a commercial real estate finance company. The Company operates in three segments: Loans, Securities and Real Estate. It focused on midmarket senior secured commercial real estate first mortgage loans, investment grade-rated securities secured by first mortgage loans on commercial real estate and investing in net leased and other commercial real estate. The company also provides services of the commercial real estate industry which includes origination, credit, underwriting, structuring, capital markets and asset management. Ladder Capital Corp is headquartered in New York City. “
Other analysts also recently issued reports about the company. ValuEngine downgraded Ladder Capital from a strong-buy rating to a buy rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $16.50 price target on shares of Ladder Capital in a report on Thursday, March 1st. Finally, Bank of America raised Ladder Capital from a neutral rating to a buy rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Ladder Capital presently has a consensus rating of Buy and an average target price of $16.67.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.27%. The ex-dividend date of this dividend is Friday, March 9th. Ladder Capital’s payout ratio is currently 105.00%.
Institutional investors have recently bought and sold shares of the company. Atlantic Trust Group LLC bought a new position in shares of Ladder Capital in the third quarter worth $2,060,000. GSA Capital Partners LLP boosted its stake in Ladder Capital by 518.2% during the third quarter. GSA Capital Partners LLP now owns 124,232 shares of the real estate investment trust’s stock valued at $1,712,000 after buying an additional 104,136 shares during the period. Royal Bank of Canada boosted its stake in Ladder Capital by 61.9% during the second quarter. Royal Bank of Canada now owns 57,973 shares of the real estate investment trust’s stock valued at $778,000 after buying an additional 22,162 shares during the period. California State Teachers Retirement System boosted its stake in Ladder Capital by 45.8% during the second quarter. California State Teachers Retirement System now owns 125,052 shares of the real estate investment trust’s stock valued at $1,677,000 after buying an additional 39,300 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Ladder Capital during the third quarter valued at $491,000. 49.53% of the stock is owned by hedge funds and other institutional investors.
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About Ladder Capital
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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