Ladder Capital Corp (LADR) Position Lifted by Advantus Capital Management Inc
Advantus Capital Management Inc increased its position in Ladder Capital Corp (NASDAQ:LADR) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,198 shares of the real estate investment trust’s stock after buying an additional 9,211 shares during the period. Advantus Capital Management Inc’s holdings in Ladder Capital Corp were worth $1,270,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Ladder Capital Corp in the 1st quarter worth $110,000. Evercore Wealth Management LLC purchased a new stake in Ladder Capital Corp in the 2nd quarter worth $134,000. BNP Paribas Arbitrage SA lifted its stake in Ladder Capital Corp by 833.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,199 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 9,106 shares in the last quarter. Legal & General Group Plc lifted its stake in Ladder Capital Corp by 6.7% in the 1st quarter. Legal & General Group Plc now owns 10,278 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 649 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Ladder Capital Corp in the 2nd quarter worth $156,000.
Shares of Ladder Capital Corp (LADR) opened at $13.65 on Friday. Ladder Capital Corp has a one year low of $12.82 and a one year high of $15.53.
Ladder Capital Corp (NASDAQ:LADR) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $69.30 million for the quarter, compared to analysts’ expectations of $59.05 million. Ladder Capital Corp had a net margin of 27.24% and a return on equity of 8.57%. During the same quarter in the previous year, the company earned $0.40 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Monday, December 11th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 9.23%. This is a boost from Ladder Capital Corp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 8th.
In other news, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $13.55, for a total transaction of $27,100,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Harris bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average price of $13.41 per share, for a total transaction of $134,100.00. Following the completion of the transaction, the chief executive officer now directly owns 544,558 shares in the company, valued at approximately $7,302,522.78. The disclosure for this purchase can be found here.
LADR has been the topic of several research analyst reports. Zacks Investment Research cut shares of Ladder Capital Corp from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $16.00 price target on shares of Ladder Capital Corp in a research note on Friday, September 22nd. Finally, BidaskClub cut shares of Ladder Capital Corp from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.17.
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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