722,753 Shares in Ladder Capital Corp $LADR Bought by M&T Bank Corp

Key Points

• M&T Bank Corp opened a new position in Ladder Capital in Q4, buying 722,753 shares valued at about $7.94 million, equal to roughly 0.57% of the company per its 13F filing.
• The company pays a quarterly dividend of $0.23 (annualized $0.92) for an 8.9% yield, but the dividend payout ratio is a high 180.39%, which raises sustainability concerns.
• Ladder reported Q1 EPS of $0.22 (in line with estimates) while revenue missed at $51.9M vs. $57.0M expected; the firm has a $1.32B market cap, a P/E around 23.5, and analysts’ consensus is a "Moderate Buy" with an average target of $12.75.

M&T Bank Corp acquired a new position in shares of Ladder Capital Corp (NYSE:LADR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 722,753 shares of the real estate investment trust's stock, valued at approximately $7,943,000. M&T Bank Corp owned about 0.57% of Ladder Capital as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Ladder Capital by 63.8% during the 4th quarter. GAMMA Investing LLC now owns 2,390 shares of the real estate investment trust's stock worth $26,000 after buying an additional 931 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Ladder Capital by 500.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust's stock worth $33,000 after buying an additional 2,500 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Ladder Capital during the 3rd quarter worth $34,000. Vision Financial Markets LLC bought a new stake in shares of Ladder Capital during the 3rd quarter worth $35,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Ladder Capital by 531.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,822 shares of the real estate investment trust's stock worth $44,000 after buying an additional 3,217 shares during the last quarter. 62.25% of the stock is currently owned by institutional investors.

Ladder Capital Price Performance

Ladder Capital stock opened at $10.35 on Friday. The company has a current ratio of 29.65, a quick ratio of 29.65 and a debt-to-equity ratio of 2.37. The company has a market capitalization of $1.32 billion, a PE ratio of 23.51, a P/E/G ratio of 0.87 and a beta of 1.00. Ladder Capital Corp has a 12 month low of $9.61 and a 12 month high of $11.92. The stock has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $10.63.

Ladder Capital (NYSE:LADR - Get Free Report) last posted its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $51.88 million during the quarter, compared to the consensus estimate of $57.03 million. Ladder Capital had a return on equity of 5.68% and a net margin of 13.82%.During the same period last year, the company earned $0.20 earnings per share. Analysts expect that Ladder Capital Corp will post 0.85 EPS for the current year.

Ladder Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.23 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.92 annualized dividend and a yield of 8.9%. Ladder Capital's dividend payout ratio (DPR) is currently 180.39%.

Analyst Upgrades and Downgrades

LADR has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Ladder Capital from $11.50 to $11.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Zacks Research downgraded Ladder Capital from a "hold" rating to a "strong sell" rating in a research report on Monday, February 16th. B. Riley Financial initiated coverage on Ladder Capital in a research report on Monday, January 5th. They set a "buy" rating and a $13.00 price objective for the company. Wall Street Zen downgraded Ladder Capital from a "hold" rating to a "sell" rating in a research report on Friday, January 23rd. Finally, Capital One Financial set a $13.00 target price on Ladder Capital in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.75.

About Ladder Capital

Ladder Capital Corp NYSE: LADR is a publicly traded commercial real estate finance company structured as a real estate investment trust. The firm specializes in originating, acquiring and managing a diversified portfolio of commercial mortgage loans, subordinate financings such as mezzanine loans and B-notes, and equity investments. In addition to direct lending activities, Ladder Capital invests in and manages commercial mortgage‐backed securities (CMBS) and commercial real estate collateralized loan obligations (CRE CLOs), providing financing across a range of property types including office, retail, multifamily, industrial and hospitality assets.

Since its inception in 2008, Ladder Capital has developed a platform that supports both balance-sheet lending and structured securitization.

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