Wells Fargo & Company MN increased its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 11.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 371,083 shares of the real estate investment trust’s stock after purchasing an additional 38,479 shares during the quarter. Wells Fargo & Company MN owned approximately 0.33% of Ladder Capital worth $6,285,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in LADR. BlackRock Inc. lifted its stake in shares of Ladder Capital by 24.8% during the 2nd quarter. BlackRock Inc. now owns 8,783,634 shares of the real estate investment trust’s stock worth $137,203,000 after buying an additional 1,746,882 shares during the last quarter. ClariVest Asset Management LLC bought a new position in Ladder Capital in the 2nd quarter valued at about $4,638,000. Advisors Capital Management LLC boosted its stake in shares of Ladder Capital by 30.5% in the 2nd quarter. Advisors Capital Management LLC now owns 1,012,384 shares of the real estate investment trust’s stock valued at $15,813,000 after purchasing an additional 236,780 shares in the last quarter. Resource America Inc. acquired a new stake in shares of Ladder Capital in the 2nd quarter valued at approximately $3,515,000. Finally, Bank of America Corp DE boosted its stake in shares of Ladder Capital by 41.5% in the 2nd quarter. Bank of America Corp DE now owns 731,640 shares of the real estate investment trust’s stock valued at $11,428,000 after purchasing an additional 214,639 shares in the last quarter. Hedge funds and other institutional investors own 52.30% of the company’s stock.
LADR stock traded down $0.02 during midday trading on Friday, reaching $16.60. 794,280 shares of the company’s stock traded hands, compared to its average volume of 788,797. Ladder Capital Corp has a 52 week low of $13.55 and a 52 week high of $17.96. The company has a current ratio of 74.92, a quick ratio of 74.92 and a debt-to-equity ratio of 3.06. The firm has a market capitalization of $1.85 billion, a PE ratio of 12.21 and a beta of 0.90.
Ladder Capital (NYSE:LADR) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.18. Ladder Capital had a net margin of 31.29% and a return on equity of 13.85%. The firm had revenue of $135.10 million during the quarter, compared to analyst estimates of $72.17 million. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities analysts predict that Ladder Capital Corp will post 1.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Monday, December 10th will be issued a $0.57 dividend. This is an increase from Ladder Capital’s previous quarterly dividend of $0.33. This represents a $2.28 dividend on an annualized basis and a dividend yield of 13.73%. The ex-dividend date of this dividend is Friday, December 7th. Ladder Capital’s payout ratio is 100.00%.
LADR has been the topic of a number of recent analyst reports. B. Riley set a $18.00 price target on shares of Ladder Capital and gave the stock a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research lowered shares of Ladder Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. lowered shares of Ladder Capital from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $17.44.
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Ladder Capital 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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