State of New Jersey Common Pension Fund D Has $2.02 Million Holdings in Ladder Capital Corp (NYSE:LADR)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 32.4% in the second quarter, HoldingsChannel reports. The firm owned 179,054 shares of the real estate investment trust’s stock after selling 85,724 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ladder Capital were worth $2,022,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LADR. SG Americas Securities LLC acquired a new stake in shares of Ladder Capital in the first quarter valued at $148,000. HB Wealth Management LLC increased its position in Ladder Capital by 7.1% in the 1st quarter. HB Wealth Management LLC now owns 15,000 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 1,000 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of Ladder Capital in the second quarter worth about $174,000. Quest Partners LLC acquired a new position in shares of Ladder Capital during the fourth quarter worth approximately $186,000. Finally, ProShare Advisors LLC grew its stake in shares of Ladder Capital by 8.5% during the first quarter. ProShare Advisors LLC now owns 20,361 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 1,602 shares during the last quarter. Institutional investors own 62.25% of the company’s stock.

Ladder Capital Stock Performance

Shares of NYSE:LADR opened at $12.01 on Friday. The firm’s 50 day simple moving average is $11.96 and its 200 day simple moving average is $11.34. Ladder Capital Corp has a fifty-two week low of $9.08 and a fifty-two week high of $12.48. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 15.80 and a beta of 1.94. The company has a debt-to-equity ratio of 2.21, a current ratio of 76.87 and a quick ratio of 76.87.

Ladder Capital (NYSE:LADR) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Ladder Capital had a net margin of 19.07% and a return on equity of 9.17%. The company had revenue of $71.67 million for the quarter, compared to analysts’ expectations of $71.22 million. During the same period last year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Ladder Capital Corp will post 1 earnings per share for the current year.

Ladder Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.92 dividend on an annualized basis and a yield of 7.66%. Ladder Capital’s payout ratio is 121.05%.

Insiders Place Their Bets

In other Ladder Capital news, President Pamela Mccormack sold 50,000 shares of Ladder Capital stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $12.25, for a total value of $612,500.00. Following the transaction, the president now owns 548,863 shares of the company’s stock, valued at $6,723,571.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Robert Perelman sold 25,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $12.15, for a total transaction of $303,750.00. Following the completion of the transaction, the insider now directly owns 351,453 shares in the company, valued at $4,270,153.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Pamela Mccormack sold 50,000 shares of Ladder Capital stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $12.25, for a total value of $612,500.00. Following the completion of the sale, the president now directly owns 548,863 shares in the company, valued at approximately $6,723,571.75. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $2,133,250 over the last ninety days. 12.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LADR. Wolfe Research initiated coverage on shares of Ladder Capital in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $13.00 price objective for the company. B. Riley boosted their target price on Ladder Capital from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on Ladder Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of Ladder Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Finally, BTIG Research reiterated a “buy” rating and set a $13.50 price target on shares of Ladder Capital in a research report on Friday, July 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.33.

Ladder Capital Profile

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. It 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.