Jennison Associates LLC Raises Stock Holdings in Ladder Capital Corp (NYSE:LADR)

Jennison Associates LLC boosted its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,767,687 shares of the real estate investment trust’s stock after acquiring an additional 108,079 shares during the quarter. Jennison Associates LLC owned 0.05% of Ladder Capital worth $78,505,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Creative Planning lifted its position in shares of Ladder Capital by 2.5% during the third quarter. Creative Planning now owns 37,302 shares of the real estate investment trust’s stock worth $433,000 after purchasing an additional 909 shares during the last quarter. Access Investment Management LLC boosted its position in Ladder Capital by 0.5% in the 2nd quarter. Access Investment Management LLC now owns 276,678 shares of the real estate investment trust’s stock valued at $3,124,000 after buying an additional 1,355 shares during the period. ProShare Advisors LLC boosted its position in Ladder Capital by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 20,361 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 1,602 shares during the period. Capital Square LLC grew its stake in Ladder Capital by 2.5% in the 2nd quarter. Capital Square LLC now owns 74,509 shares of the real estate investment trust’s stock worth $903,000 after acquiring an additional 1,804 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Ladder Capital by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 60,772 shares of the real estate investment trust’s stock valued at $686,000 after acquiring an additional 2,573 shares in the last quarter. Institutional investors own 62.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LADR shares. Bank of America increased their price objective on Ladder Capital from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. B. Riley raised their price target on Ladder Capital from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of Ladder Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. JMP Securities reissued a “market outperform” rating and set a $13.50 target price on shares of Ladder Capital in a research report on Friday, August 30th. Finally, StockNews.com cut shares of Ladder Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

Ladder Capital Price Performance

LADR opened at $11.62 on Thursday. The firm has a market capitalization of $1.48 billion, a PE ratio of 15.28 and a beta of 1.94. The business’s 50-day moving average is $11.53 and its two-hundred day moving average is $11.53. Ladder Capital Corp has a 1 year low of $10.10 and a 1 year high of $12.48. The company has a debt-to-equity ratio of 2.34, a current ratio of 54.44 and a quick ratio of 54.44.

Ladder Capital (NYSE:LADR) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $128.64 million for the quarter, compared to the consensus estimate of $60.85 million. Ladder Capital had a net margin of 18.90% and a return on equity of 9.14%. During the same quarter in the previous year, the firm earned $0.28 EPS. Research analysts anticipate that Ladder Capital Corp will post 1 earnings per share for the current fiscal year.

Ladder Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.23 per share. The ex-dividend date was Monday, September 30th. This represents a $0.92 annualized dividend and a dividend yield of 7.92%. Ladder Capital’s dividend payout ratio is presently 121.05%.

Insider Transactions at Ladder Capital

In other Ladder Capital news, insider Robert Perelman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.15, for a total transaction of $303,750.00. Following the transaction, the insider now owns 351,453 shares in the company, valued at approximately $4,270,153.95. This represents a 6.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Pamela Mccormack sold 50,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $12.25, for a total transaction of $612,500.00. Following the completion of the transaction, the president now directly owns 548,863 shares of the company’s stock, valued at approximately $6,723,571.75. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Ladder Capital Company Profile

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. It 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.