Sei Investments Co. boosted its holdings in Ladder Capital Corp (NYSE:LADR) by 67.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,330 shares of the real estate investment trust’s stock after purchasing an additional 13,447 shares during the quarter. Sei Investments Co.’s holdings in Ladder Capital were worth $520,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rhumbline Advisers grew its stake in Ladder Capital by 5.8% in the 1st quarter. Rhumbline Advisers now owns 77,466 shares of the real estate investment trust’s stock valued at $1,168,000 after acquiring an additional 4,280 shares during the period. SG Americas Securities LLC acquired a new stake in Ladder Capital in the 1st quarter valued at $187,000. Virginia Retirement Systems ET AL acquired a new stake in Ladder Capital in the 1st quarter valued at $493,000. Swiss National Bank grew its stake in Ladder Capital by 6.9% in the 1st quarter. Swiss National Bank now owns 125,362 shares of the real estate investment trust’s stock valued at $1,890,000 after acquiring an additional 8,100 shares during the period. Finally, State of Wisconsin Investment Board acquired a new stake in Ladder Capital in the 1st quarter valued at $4,147,000. 52.58% of the stock is owned by hedge funds and other institutional investors.
Shares of LADR opened at $16.98 on Tuesday. Ladder Capital Corp has a 52-week low of $13.23 and a 52-week high of $17.53. The company has a debt-to-equity ratio of 3.11, a quick ratio of 66.13 and a current ratio of 66.13. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 12.40 and a beta of 0.97.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were issued a dividend of $0.325 per share. The ex-dividend date was Friday, September 14th. This represents a $1.30 annualized dividend and a dividend yield of 7.66%. Ladder Capital’s dividend payout ratio is presently 95.59%.
A number of equities research analysts recently issued reports on the stock. B. Riley lifted their price target on shares of Ladder Capital from $16.00 to $17.50 and gave the company a “buy” rating in a research note on Tuesday, August 7th. JMP Securities lifted their price target on shares of Ladder Capital from $17.00 to $17.50 and gave the company a “market outperform” rating in a research note on Monday, August 6th. Deutsche Bank lifted their price target on shares of Ladder Capital from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised shares of Ladder Capital from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ladder Capital from $15.00 to $17.00 and gave the stock a “$16.11” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.38.
Ladder Capital Profile
Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning.
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