Ladder Capital Corp (NYSE:LADR) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 2,090,000 shares, a decrease of 21.7% from the September 15th total of 2,670,000 shares. Currently, 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 931,400 shares, the days-to-cover ratio is presently 2.2 days.
Institutional investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC boosted its stake in Ladder Capital by 7.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 34,100 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 2,500 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Ladder Capital by 11.1% in the second quarter. Two Sigma Advisers LP now owns 320,050 shares of the real estate investment trust’s stock valued at $2,592,000 after purchasing an additional 32,100 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Ladder Capital by 3.2% in the second quarter. Principal Financial Group Inc. now owns 943,624 shares of the real estate investment trust’s stock valued at $7,643,000 after purchasing an additional 29,217 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Ladder Capital by 26.6% in the second quarter. Nuveen Asset Management LLC now owns 2,573,906 shares of the real estate investment trust’s stock valued at $20,848,000 after purchasing an additional 540,625 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of Ladder Capital in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 48.58% of the company’s stock.
Several equities analysts recently commented on LADR shares. JMP Securities dropped their target price on Ladder Capital from $11.00 to $10.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 6th. ValuEngine raised Ladder Capital from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, Zacks Investment Research lowered Ladder Capital from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.66.
Ladder Capital (NYSE:LADR) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.11. The business had revenue of $24.58 million during the quarter, compared to the consensus estimate of $33.41 million. Ladder Capital had a net margin of 11.78% and a return on equity of 7.38%. On average, equities research analysts anticipate that Ladder Capital will post 0.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $0.80 annualized dividend and a yield of 11.20%. Ladder Capital’s dividend payout ratio is presently 55.17%.
About Ladder Capital
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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