Ladder Capital Corp (LADR) Stake Cut by Morgan Stanley
Morgan Stanley lowered its position in Ladder Capital Corp (NASDAQ:LADR) by 37.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,157 shares of the real estate investment trust’s stock after selling 92,796 shares during the period. Morgan Stanley owned approximately 0.21% of Ladder Capital Corp worth $2,197,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LADR. SG Americas Securities LLC acquired a new position in shares of Ladder Capital Corp during the first quarter worth $110,000. Great West Life Assurance Co. Can raised its position in shares of Ladder Capital Corp by 0.8% in the first quarter. Great West Life Assurance Co. Can now owns 9,993 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 75 shares in the last quarter. Legal & General Group Plc raised its position in shares of Ladder Capital Corp by 6.7% in the first quarter. Legal & General Group Plc now owns 10,278 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 649 shares in the last quarter. Strs Ohio raised its position in shares of Ladder Capital Corp by 0.8% in the first quarter. Strs Ohio now owns 12,393 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 93 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Ladder Capital Corp by 0.7% in the first quarter. UBS Asset Management Americas Inc. now owns 13,196 shares of the real estate investment trust’s stock worth $191,000 after buying an additional 98 shares in the last quarter.
Ladder Capital Corp (NASDAQ:LADR) traded down 0.29% during mid-day trading on Friday, reaching $13.56. The company’s stock had a trading volume of 335,923 shares. The firm has a 50 day moving average price of $13.34 and a 200-day moving average price of $14.02. Ladder Capital Corp has a 1-year low of $12.14 and a 1-year high of $15.53. The company has a market capitalization of $1.17 billion and a PE ratio of 11.85.
Ladder Capital Corp (NASDAQ:LADR) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $76.60 million. Ladder Capital Corp had a return on equity of 3.93% and a net margin of 15.32%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. On average, equities analysts predict that Ladder Capital Corp will post $1.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.85%. The ex-dividend date is Friday, September 8th.
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A number of brokerages recently weighed in on LADR. Zacks Investment Research raised Ladder Capital Corp from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.00 price objective on shares of Ladder Capital Corp in a report on Friday, August 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ladder Capital Corp has a consensus rating of “Buy” and an average target price of $15.67.
In related news, CEO Brian Harris purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were bought at an average price of $13.41 per share, with a total value of $134,100.00. Following the purchase, the chief executive officer now directly owns 544,558 shares in the company, valued at approximately $7,302,522.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
About Ladder Capital Corp
Ladder Capital Corp is a commercial real estate finance company. The Company’s segments include loans, securities, real estate and corporate/other. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans).
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