Raymond James & Associates Trims Stock Position in Ladder Capital Corp (NYSE:LADR)

Raymond James & Associates lessened its position in shares of Ladder Capital Corp (NYSE:LADR) by 11.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 480,936 shares of the real estate investment trust’s stock after selling 64,818 shares during the quarter. Raymond James & Associates’ holdings in Ladder Capital were worth $5,579,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its position in Ladder Capital by 2.5% in the third quarter. Creative Planning now owns 37,302 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 909 shares during the period. SG Americas Securities LLC acquired a new position in shares of Ladder Capital in the third quarter worth $295,000. Algert Global LLC acquired a new position in shares of Ladder Capital in the second quarter worth $130,000. The Manufacturers Life Insurance Company grew its stake in shares of Ladder Capital by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 60,772 shares of the real estate investment trust’s stock worth $686,000 after acquiring an additional 2,573 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ladder Capital by 92.0% in the second quarter. Millennium Management LLC now owns 737,970 shares of the real estate investment trust’s stock worth $8,332,000 after acquiring an additional 353,530 shares in the last quarter. Hedge funds and other institutional investors own 62.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Ladder Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. B. Riley boosted their price target on shares of Ladder Capital from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Bank of America boosted their price target on shares of Ladder Capital from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com cut shares of Ladder Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $13.50 target price on shares of Ladder Capital in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Insiders Place Their Bets

In other Ladder Capital news, insider Robert Perelman sold 25,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.15, for a total transaction of $303,750.00. Following the transaction, the insider now owns 351,453 shares of the company’s stock, valued at $4,270,153.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Robert Perelman sold 25,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.15, for a total value of $303,750.00. Following the transaction, the insider now owns 351,453 shares of the company’s stock, valued at approximately $4,270,153.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Pamela Mccormack sold 50,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $12.25, for a total transaction of $612,500.00. Following the sale, the president now directly owns 548,863 shares of the company’s stock, valued at approximately $6,723,571.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.

Ladder Capital Stock Up 1.1 %

LADR stock opened at $11.54 on Friday. The company’s 50 day simple moving average is $11.66 and its 200-day simple moving average is $11.43. The firm has a market capitalization of $1.48 billion, a PE ratio of 15.18 and a beta of 1.94. Ladder Capital Corp has a 12 month low of $10.10 and a 12 month high of $12.48. The company has a debt-to-equity ratio of 2.34, a current ratio of 54.44 and a quick ratio of 76.87.

Ladder Capital (NYSE:LADR) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Ladder Capital had a net margin of 18.90% and a return on equity of 9.14%. The firm had revenue of $128.64 million for the quarter, compared to analyst estimates of $60.85 million. During the same quarter last year, the business earned $0.28 earnings per share. Equities analysts expect that Ladder Capital Corp will post 1 earnings per share for the current fiscal year.

Ladder Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend was Monday, September 30th. Ladder Capital’s dividend payout ratio is currently 121.05%.

About Ladder Capital

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.