Prudential Financial Inc. Has $9.34 Million Position in Ladder Capital Corp (LADR)
Prudential Financial Inc. increased its stake in shares of Ladder Capital Corp (NYSE:LADR) by 150.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 677,531 shares of the real estate investment trust’s stock after acquiring an additional 407,530 shares during the period. Prudential Financial Inc. owned about 0.79% of Ladder Capital Corp worth $9,336,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ladder Capital Corp by 14.3% during the second quarter. Vanguard Group Inc. now owns 5,701,594 shares of the real estate investment trust’s stock worth $76,459,000 after acquiring an additional 712,583 shares during the period. Balyasny Asset Management LLC acquired a new stake in Ladder Capital Corp during the second quarter worth about $4,188,000. Martingale Asset Management L P grew its holdings in 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 worth $1,729,000 after acquiring an additional 23,300 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Ladder Capital Corp by 112.2% during the second quarter. UBS Asset Management Americas Inc. now owns 28,007 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 14,811 shares during the period. Finally, WFG Advisors LP grew its holdings in 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 worth $650,000 after acquiring an additional 15,855 shares during the period. 46.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ladder Capital Corp (NYSE LADR) traded up $0.14 during mid-day trading on Friday, reaching $13.87. The company’s stock had a trading volume of 583,400 shares, compared to its average volume of 538,278. The stock has a market capitalization of $1,536.06, a P/E ratio of 10.12, a P/E/G ratio of 2.12 and a beta of 1.04. The company has a quick ratio of 77.86, a current ratio of 77.86 and a debt-to-equity ratio of 2.86. Ladder Capital Corp has a 52 week low of $12.82 and a 52 week high of $15.53.
Ladder Capital Corp (NYSE:LADR) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $69.30 million for the quarter, compared to the consensus estimate of $59.05 million. Ladder Capital Corp had a return on equity of 9.78% and a net margin of 27.38%. During the same quarter in the prior year, the business posted $0.40 earnings per share. equities research analysts anticipate that Ladder Capital Corp will post 1.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Monday, December 11th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.26 dividend on an annualized basis and a yield of 9.08%. This is an increase from Ladder Capital Corp’s previous quarterly dividend of $0.30. Ladder Capital Corp’s dividend payout ratio is currently 98.36%.
A number of brokerages have issued reports on LADR. B. Riley reiterated a “buy” rating on shares of Ladder Capital Corp in a research report on Friday, November 3rd. Zacks Investment Research upgraded Ladder Capital Corp from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $16.00 price target on shares of Ladder Capital Corp in a research report on Friday, August 18th. Finally, BidaskClub upgraded Ladder Capital Corp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.17.
In other Ladder Capital Corp news, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $13.55, for a total transaction of $27,100,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.50% of the company’s stock.
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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