Evercore Wealth Management LLC Purchases Shares of 10,000 Ladder Capital Corp (LADR)
Evercore Wealth Management LLC purchased a new stake in Ladder Capital Corp (NASDAQ:LADR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $134,000.
A number of other large investors also recently added to or reduced their stakes in LADR. SG Americas Securities LLC bought a new stake in Ladder Capital Corp in the first quarter valued at $110,000. BNP Paribas Arbitrage SA boosted its holdings in Ladder Capital Corp by 833.1% in the second quarter. BNP Paribas Arbitrage SA now owns 10,199 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 9,106 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in 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 valued at $144,000 after acquiring an additional 75 shares in the last quarter. Legal & General Group Plc boosted its holdings in 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 valued at $148,000 after acquiring an additional 649 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Ladder Capital Corp in the second quarter valued at $156,000.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ladder Capital Corp from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $16.00 price target on shares of Ladder Capital Corp in a report on Friday, September 22nd. Finally, BidaskClub upgraded shares of Ladder Capital Corp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.75.
Shares of Ladder Capital Corp (LADR) opened at 13.78 on Friday. The stock’s 50 day moving average is $13.52 and its 200-day moving average is $13.96. The company has a market cap of $1.19 billion and a PE ratio of 12.05. Ladder Capital Corp has a one year low of $12.14 and a one year high of $15.53.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. Ladder Capital Corp had a return on equity of 3.93% and a net margin of 15.32%. The business had revenue of $52.10 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 32.9% compared to the same quarter last year. Equities research analysts expect that Ladder Capital Corp will post $1.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.71%. The ex-dividend date of this dividend is Friday, September 8th.
In other news, CEO Brian Harris purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $13.41 per share, with a total value of $134,100.00. Following the transaction, the chief executive officer now owns 544,558 shares of the company’s stock, valued at $7,302,522.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
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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