Zacks Investment Research cut shares of Ladder Capital (NYSE:LADR) from a strong-buy rating to a hold rating in a research note released on Wednesday morning.
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. “
Several other brokerages have also weighed in on LADR. B. Riley lifted their target price on shares of Ladder Capital from $16.00 to $17.50 and gave the company a buy rating in a research report on Tuesday, August 7th. JMP Securities lifted their target price on shares of Ladder Capital from $17.00 to $17.50 and gave the company a market outperform rating in a research report on Monday, August 6th. ValuEngine upgraded shares of Ladder Capital from a hold rating to a buy rating in a research report on Thursday, July 5th. JPMorgan Chase & Co. lifted their target price on shares of Ladder Capital from $15.00 to $17.00 and gave the company a $16.11 rating in a research report on Monday, July 23rd. Finally, Deutsche Bank lifted their target price on shares of Ladder Capital from $16.50 to $17.00 and gave the company a buy rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $17.38.
Shares of Ladder Capital stock traded down $0.11 during trading on Wednesday, hitting $16.92. 41,419 shares of the company’s stock traded hands, compared to its average volume of 1,079,338. The company has a debt-to-equity ratio of 3.11, a quick ratio of 66.13 and a current ratio of 66.13. Ladder Capital has a twelve month low of $13.23 and a twelve month high of $17.53. The firm has a market cap of $1.88 billion, a P/E ratio of 12.49 and a beta of 0.97.
Ladder Capital (NYSE:LADR) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. Ladder Capital had a net margin of 27.91% and a return on equity of 12.43%. The business had revenue of $83.19 million for the quarter, compared to analyst estimates of $75.40 million. On average, equities analysts forecast that Ladder Capital will post 1.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 17th were issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend was Friday, September 14th. Ladder Capital’s dividend payout ratio is currently 95.59%.
A number of hedge funds have recently made changes to their positions in LADR. Schwab Charles Investment Management Inc. lifted its holdings in Ladder Capital by 11.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 444,131 shares of the real estate investment trust’s stock valued at $6,698,000 after purchasing an additional 46,101 shares during the last quarter. Aperio Group LLC bought a new position in Ladder Capital during the 1st quarter valued at about $246,000. Northern Trust Corp lifted its holdings in Ladder Capital by 2.8% during the 1st quarter. Northern Trust Corp now owns 917,451 shares of the real estate investment trust’s stock valued at $13,835,000 after purchasing an additional 24,588 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Ladder Capital by 207.3% during the 1st quarter. JPMorgan Chase & Co. now owns 132,769 shares of the real estate investment trust’s stock valued at $2,002,000 after purchasing an additional 89,565 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Ladder Capital by 32.5% during the 1st quarter. Russell Investments Group Ltd. now owns 956,822 shares of the real estate investment trust’s stock valued at $14,428,000 after purchasing an additional 234,752 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.
Ladder Capital Company Profile
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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