LPL Financial LLC cut its holdings in shares of Ladder Capital Corp (NYSE:LADR – Free Report) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,712 shares of the real estate investment trust’s stock after selling 1,366 shares during the period. LPL Financial LLC owned 0.12% of Ladder Capital worth $1,614,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LADR. Norges Bank acquired a new position in shares of Ladder Capital during the fourth quarter worth $10,883,000. Millennium Management LLC increased its position in shares of Ladder Capital by 233.4% during the second quarter. Millennium Management LLC now owns 1,498,869 shares of the real estate investment trust’s stock worth $15,798,000 after purchasing an additional 1,049,301 shares in the last quarter. Royal Bank of Canada increased its position 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 acquiring an additional 987,995 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position 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 acquiring an additional 892,898 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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 acquiring an additional 551,241 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on LADR shares. BTIG Research upped their target price on Ladder Capital from $10.00 to $12.50 and gave the company a “buy” rating in a research report on Monday, July 24th. StockNews.com raised Ladder Capital from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th. Raymond James downgraded Ladder Capital from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $12.00 to $12.50 in a research report on Thursday, July 27th. Finally, JMP Securities upped their price target on shares of Ladder Capital from $12.00 to $13.00 in a report on Thursday, July 27th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.00.
Ladder Capital Stock Down 0.5 %
LADR stock opened at $10.40 on Tuesday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 9.12 and a beta of 1.91. The company has a current ratio of 66.82, a quick ratio of 66.82 and a debt-to-equity ratio of 2.47. Ladder Capital Corp has a 12 month low of $8.76 and a 12 month high of $11.77. The firm has a 50-day moving average of $10.22 and a two-hundred day moving average of $10.34.
Ladder Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 8.85%. Ladder Capital’s payout ratio is 80.70%.
About Ladder Capital
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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