Ladder Capital Corp $LADR Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its holdings in Ladder Capital Corp by 13.9%, selling 98,030 shares during the first quarter, now owning approximately 0.48% of the company worth $6.9 million.
• Insider transactions include Director Mark David Alexander selling 34,587 shares at an average price of $11.12, decreasing his ownership by 28.68%.
• Recent analyst reports have upgraded Ladder Capital's rating, with Wall Street Zen moving it from a "sell" to a "hold," while Keefe, Bruyette & Woods has lifted the target price to $12.00 with an "outperform" rating.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 604,712 shares of the real estate investment trust's stock after selling 98,030 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.48% of Ladder Capital worth $6,900,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of LADR. KBC Group NV purchased a new stake in shares of Ladder Capital during the first quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of Ladder Capital during the first quarter worth about $38,000. Samalin Investment Counsel LLC purchased a new stake in shares of Ladder Capital during the first quarter worth about $123,000. Magnetar Financial LLC purchased a new stake in shares of Ladder Capital during the first quarter worth about $172,000. Finally, Jump Financial LLC increased its position in shares of Ladder Capital by 20.4% during the first quarter. Jump Financial LLC now owns 18,063 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 3,063 shares during the last quarter. 62.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ladder Capital news, Director Mark David Alexander sold 34,587 shares of Ladder Capital stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $11.12, for a total value of $384,607.44. Following the completion of the transaction, the director directly owned 86,024 shares in the company, valued at $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 at this link. Insiders sold 91,382 shares of company stock valued at $1,003,501 in the last three months. Insiders own 12.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LADR. Wall Street Zen raised Ladder Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Keefe, Bruyette & Woods lifted their target price on Ladder Capital from $11.75 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Strong Buy" and a consensus price target of $12.00.

Ladder Capital Stock Up 0.2%

Shares of Ladder Capital stock opened at $11.76 on Thursday. The company has a quick ratio of 31.28, a current ratio of 31.28 and a debt-to-equity ratio of 1.86. The firm has a market cap of $1.50 billion, a P/E ratio of 16.79, a P/E/G ratio of 10.00 and a beta of 1.09. Ladder Capital Corp has a fifty-two week low of $9.68 and a fifty-two week high of $12.25. The business has a 50-day moving average price of $11.24 and a 200 day moving average price of $10.96.

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

Ladder Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date was Monday, June 30th. Ladder Capital's payout ratio is presently 131.43%.

About Ladder Capital

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.

Want to see what other hedge funds are holding LADR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ladder Capital Corp (NYSE:LADR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.