Connor Clark & Lunn Investment Management Ltd. Acquires 48,498 Shares of Ladder Capital Corp $LADR

Key Points

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Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 366.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,730 shares of the real estate investment trust's stock after purchasing an additional 48,498 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Ladder Capital were worth $704,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Ladder Capital by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 11,367,771 shares of the real estate investment trust's stock worth $129,706,000 after purchasing an additional 42,255 shares during the last quarter. Aviso Wealth Management increased its stake in shares of Ladder Capital by 1.4% during the 1st quarter. Aviso Wealth Management now owns 128,485 shares of the real estate investment trust's stock worth $1,466,000 after purchasing an additional 1,812 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ladder Capital during the 1st quarter worth $821,000. Mackenzie Financial Corp increased its stake in shares of Ladder Capital by 7.6% during the 1st quarter. Mackenzie Financial Corp now owns 20,785 shares of the real estate investment trust's stock worth $237,000 after purchasing an additional 1,473 shares during the last quarter. Finally, LPL Financial LLC increased its stake in shares of Ladder Capital by 46.1% during the 1st quarter. LPL Financial LLC now owns 283,407 shares of the real estate investment trust's stock worth $3,234,000 after purchasing an additional 89,413 shares during the last quarter. Institutional investors and hedge funds own 62.25% of the company's stock.

Insider Transactions at Ladder Capital

In related news, Director Mark David Alexander sold 34,587 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $11.12, for a total transaction of $384,607.44. Following the transaction, the director owned 86,024 shares of the company's stock, valued at approximately $956,586.88. The trade was a 28.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 91,382 shares of company stock worth $1,003,501 over the last 90 days. Insiders own 12.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LADR. Wall Street Zen cut shares of Ladder Capital from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised their target price on shares of Ladder Capital from $11.75 to $12.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $12.75.

Ladder Capital Stock Performance

LADR stock traded up $0.3580 on Friday, reaching $11.5180. 731,118 shares of the company were exchanged, compared to its average volume of 616,870. Ladder Capital Corp has a 12 month low of $9.68 and a 12 month high of $12.36. The stock's fifty day moving average price is $11.01 and its 200 day moving average price is $10.95. The firm has a market capitalization of $1.47 billion, a PE ratio of 16.45, a PEG ratio of 9.81 and a beta of 1.03. The company has a debt-to-equity ratio of 1.86, a current ratio of 31.28 and a quick ratio of 31.28.

Ladder Capital (NYSE:LADR - Get Free Report) last announced its 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. Ladder Capital had a net margin of 20.05% and a return on equity of 7.07%. The business had revenue of $56.26 million for the quarter, compared to analyst estimates of $58.57 million. During the same quarter in the previous year, the firm posted $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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.92 dividend on an annualized basis and a yield of 8.0%. Ladder Capital's payout ratio is 131.43%.

Ladder Capital 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.