Geode Capital Management LLC Increases Stake in Ladder Capital Corp (NYSE:LADR)

Geode Capital Management LLC grew its stake in shares of Ladder Capital Corp (NYSE:LADR) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,649,699 shares of the real estate investment trust’s stock after purchasing an additional 8,178 shares during the quarter. Geode Capital Management LLC owned approximately 2.08% of Ladder Capital worth $30,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of Ladder Capital by 1.6% during the third quarter. Jennison Associates LLC now owns 6,767,687 shares of the real estate investment trust’s stock valued at $78,505,000 after buying an additional 108,079 shares during the period. State Street Corp boosted its holdings in Ladder Capital by 1.9% in the third quarter. State Street Corp now owns 2,994,537 shares of the real estate investment trust’s stock valued at $35,411,000 after acquiring an additional 54,598 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Ladder Capital by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,020,143 shares of the real estate investment trust’s stock worth $23,434,000 after purchasing an additional 96,573 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Ladder Capital by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,640,319 shares of the real estate investment trust’s stock worth $19,028,000 after purchasing an additional 15,938 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Ladder Capital by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,633,075 shares of the real estate investment trust’s stock worth $18,944,000 after purchasing an additional 4,282 shares during the period. Institutional investors own 62.25% of the company’s stock.

Ladder Capital Stock Down 0.3 %

Shares of Ladder Capital stock opened at $11.41 on Friday. Ladder Capital Corp has a 1 year low of $10.10 and a 1 year high of $12.48. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 15.01 and a beta of 1.93. The company has a 50-day moving average of $11.58 and a 200 day moving average of $11.63. 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 released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The firm had revenue of $128.64 million during the quarter, compared to analyst estimates of $60.85 million. Ladder Capital had a net margin of 18.90% and a return on equity of 9.14%. During the same period last year, the business earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Ladder Capital Corp will post 1.06 earnings per share for the current fiscal year.

Ladder Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 8.06%. The ex-dividend date is Tuesday, December 31st. Ladder Capital’s dividend payout ratio (DPR) is 121.05%.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and issued a $13.50 price target on shares of Ladder Capital in a research note on Friday, August 30th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

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.