Global X MANAGEMENT CO LLC increased its position in shares of Ladder Capital Corp (NASDAQ:LADR) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 688,604 shares of the real estate investment trust’s stock after acquiring an additional 35,058 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Ladder Capital Corp were worth $9,489,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Ladder Capital Corp during the first quarter valued at $110,000. Balyasny Asset Management LLC acquired a new position in shares of Ladder Capital Corp during the second quarter valued at $4,188,000. Martingale Asset Management L P lifted its stake in shares of Ladder Capital Corp by 22.1% during the second quarter. Martingale Asset Management L P now owns 128,901 shares of the real estate investment trust’s stock valued at $1,729,000 after acquiring an additional 23,300 shares during the period. WFG Advisors LP lifted its stake in shares of Ladder Capital Corp by 48.7% during the second quarter. WFG Advisors LP now owns 48,443 shares of the real estate investment trust’s stock valued at $650,000 after acquiring an additional 15,855 shares during the period. Finally, WESPAC Advisors LLC acquired a new position in shares of Ladder Capital Corp during the third quarter valued at $1,254,000.
Several equities analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating on shares of Ladder Capital Corp in a research note on Friday, November 3rd. Zacks Investment Research lowered Ladder Capital Corp from a “buy” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.00 price target on shares of Ladder Capital Corp in a research note on Friday, August 18th. Finally, BidaskClub raised Ladder Capital Corp from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.17.
Ladder Capital Corp (NASDAQ LADR) traded down $0.04 during midday trading on Friday, reaching $13.65. The company had a trading volume of 732,654 shares, compared to its average volume of 607,879. Ladder Capital Corp has a fifty-two week low of $12.82 and a fifty-two week high of $15.53.
Ladder Capital Corp (NASDAQ:LADR) last released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $69.30 million during the quarter, compared to the consensus estimate of $59.05 million. Ladder Capital Corp had a return on equity of 8.57% and a net margin of 27.24%. During the same quarter in the prior year, the company posted $0.40 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Monday, December 11th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Friday, December 8th. This is an increase from Ladder Capital Corp’s previous quarterly dividend of $0.30.
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In other Ladder Capital Corp news, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $13.55, for a total value of $27,100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Harris purchased 10,000 shares of the stock in a transaction on Monday, August 21st. The stock was acquired at an average price of $13.41 per share, with a total value of $134,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 544,558 shares of the company’s stock, valued at $7,302,522.78. The disclosure for this purchase can be found here.
Ladder Capital Corp Profile
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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