Zacks Investment Research Downgrades Ladder Capital Corp (LADR) to Hold
Ladder Capital Corp (NASDAQ:LADR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Ladder Capital Corp is a commercial real estate finance company. The Company operates in three segments: Loans, Securities and Real Estate. It focused on midmarket senior secured commercial real estate first mortgage loans, investment grade-rated securities secured by first mortgage loans on commercial real estate and investing in net leased and other commercial real estate. The company also provides services of the commercial real estate industry which includes origination, credit, underwriting, structuring, capital markets and asset management. Ladder Capital Corp is headquartered in New York City. “
A number of other equities analysts have also weighed in on LADR. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $16.00 price target on shares of Ladder Capital Corp in a research report on Friday, August 18th. BidaskClub upgraded shares of Ladder Capital Corp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Finally, B. Riley reiterated a “buy” rating on shares of Ladder Capital Corp in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $16.17.
Shares of Ladder Capital Corp (NASDAQ LADR) traded down $0.04 during midday trading on Thursday, reaching $13.65. 732,654 shares of the company traded hands, compared to its average volume of 607,879. Ladder Capital Corp has a 12 month low of $12.82 and a 12 month high of $15.53.
Ladder Capital Corp (NASDAQ:LADR) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $69.30 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.40 earnings per share.
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In related news, CEO Brian Harris bought 10,000 shares of the stock in a transaction dated Monday, August 21st. The shares were purchased 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 owns 544,558 shares of the company’s stock, valued at $7,302,522.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Ladder Capital Corp in the first quarter worth $110,000. Balyasny Asset Management LLC purchased a new position in shares of Ladder Capital Corp in the second quarter worth $4,188,000. Martingale Asset Management L P lifted its holdings in shares of Ladder Capital Corp by 22.1% in 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 buying an additional 23,300 shares in the last quarter. WFG Advisors LP lifted its holdings in shares of Ladder Capital Corp by 48.7% in the second quarter. WFG Advisors LP now owns 48,443 shares of the real estate investment trust’s stock worth $650,000 after buying an additional 15,855 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new position in shares of Ladder Capital Corp in the third quarter worth $1,254,000.
Ladder Capital Corp Company 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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