Allianz Asset Management GmbH Acquires 84,286 Shares of Ladder Capital Corp (NYSE:LADR)

Key Points

• Allianz Asset Management GmbH increased its stake in Ladder Capital Corp by 37.8%, now owning approximately 307,036 shares valued at $3.5 million.
• Ladder Capital recently declared a quarterly dividend of $0.23 per share, representing an annualized yield of 8.25%.
• Wall Street analysts have given mixed ratings on Ladder Capital, with Keefe, Bruyette & Woods raising their price target to $12.00 while Wall Street Zen downgraded it to a "sell" rating.

Allianz Asset Management GmbH raised its position in Ladder Capital Corp (NYSE:LADR - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 307,036 shares of the real estate investment trust's stock after buying an additional 84,286 shares during the quarter. Allianz Asset Management GmbH owned about 0.24% of Ladder Capital worth $3,503,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Balyasny Asset Management L.P. raised its holdings in Ladder Capital by 35.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,777,974 shares of the real estate investment trust's stock valued at $19,896,000 after buying an additional 461,739 shares during the last quarter. Bank of America Corp DE raised its holdings in Ladder Capital by 18.7% in the 4th quarter. Bank of America Corp DE now owns 367,430 shares of the real estate investment trust's stock valued at $4,112,000 after buying an additional 57,766 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Ladder Capital by 4.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,336 shares of the real estate investment trust's stock valued at $563,000 after buying an additional 2,251 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Ladder Capital in the 4th quarter valued at approximately $1,979,000. Finally, KBC Group NV bought a new position in Ladder Capital in the 1st quarter valued at approximately $31,000. 62.25% of the stock is owned by institutional investors.

Ladder Capital Trading Down 0.5%

Shares of Ladder Capital stock traded down $0.05 on Friday, reaching $10.87. 747,557 shares of the company's stock were exchanged, compared to its average volume of 844,144. The company has a market capitalization of $1.39 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 3.22 and a beta of 1.03. Ladder Capital Corp has a 52 week low of $9.68 and a 52 week high of $12.36. The firm's 50-day moving average is $10.82 and its two-hundred day moving average is $10.95. The company has a debt-to-equity ratio of 1.86, a quick ratio of 48.71 and a current ratio of 31.28.

Ladder Capital (NYSE:LADR - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $56.26 million for the quarter, compared to analysts' expectations of $58.57 million. Ladder Capital had a return on equity of 7.07% and a net margin of 20.05%. During the same period in the prior year, the business earned $0.31 EPS. Sell-side analysts predict that Ladder Capital Corp will post 1.03 EPS for the current fiscal year.

Ladder Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend was Monday, June 30th. Ladder Capital's dividend payout ratio is presently 131.43%.

Insider Buying and Selling at Ladder Capital

In other news, Director Mark David Alexander sold 34,587 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $11.12, for a total transaction of $384,607.44. Following the transaction, the director directly owned 86,024 shares of the company's stock, valued at $956,586.88. This represents a 28.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 91,382 shares of company stock worth $1,003,501 over the last quarter. 12.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LADR shares. Wall Street Zen downgraded shares of Ladder Capital from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods increased their target price on shares of Ladder Capital from $11.75 to $12.00 and gave the company an "outperform" rating in a research report on Friday, July 25th.

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.