Allianz Asset Management GmbH Purchases 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 lifted its holdings in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 37.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,036 shares of the real estate investment trust's stock after purchasing an additional 84,286 shares during the period. Allianz Asset Management GmbH owned about 0.24% of Ladder Capital worth $3,503,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. KBC Group NV acquired a new position in shares of Ladder Capital in the 1st quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in Ladder Capital during the 1st quarter worth $38,000. Sterling Capital Management LLC increased its stake in Ladder Capital by 816.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,637 shares of the real estate investment trust's stock worth $41,000 after buying an additional 3,240 shares during the period. TD Waterhouse Canada Inc. purchased a new stake in Ladder Capital during the 4th quarter worth $84,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Ladder Capital during the 4th quarter worth $129,000. 62.25% of the stock is owned by hedge funds and other institutional investors.

Ladder Capital Price Performance

NYSE:LADR traded down $0.09 during mid-day trading on Wednesday, reaching $11.05. 905,325 shares of the company were exchanged, compared to its average volume of 815,157. The stock has a market cap of $1.42 billion, a PE ratio of 15.79, a PEG ratio of 3.29 and a beta of 1.00. The company has a quick ratio of 48.71, a current ratio of 31.28 and a debt-to-equity ratio of 1.86. Ladder Capital Corp has a 12 month low of $9.68 and a 12 month high of $12.36. The company has a fifty day moving average of $10.78 and a 200 day moving average of $10.95.

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

Ladder Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.23 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.33%. Ladder Capital's payout ratio is presently 131.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently 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. Keefe, Bruyette & Woods upped their price target on shares of Ladder Capital from $11.75 to $12.00 and gave the stock an "outperform" rating in a research note 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.