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. reduced its holdings in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.48% of Ladder Capital worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Ladder Capital by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,367,771 shares of the real estate investment trust's stock valued at $129,706,000 after purchasing an additional 42,255 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Ladder Capital by 2.8% in the first quarter. Jennison Associates LLC now owns 6,955,381 shares of the real estate investment trust's stock valued at $79,361,000 after purchasing an additional 190,867 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Ladder Capital by 77.6% in the fourth quarter. Wellington Management Group LLP now owns 2,684,772 shares of the real estate investment trust's stock valued at $30,043,000 after purchasing an additional 1,172,961 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Ladder Capital in the first quarter valued at about $22,261,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Ladder Capital by 3.2% in the first quarter. Victory Capital Management Inc. now owns 1,734,479 shares of the real estate investment trust's stock valued at $19,790,000 after purchasing an additional 54,465 shares in the last quarter. Hedge funds and other institutional investors own 62.25% of the company's stock.

Insider Buying and Selling

In related news, Director Mark David Alexander sold 34,587 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 86,024 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders have sold a total of 91,382 shares of company stock worth $1,003,501 over the last ninety days. Corporate insiders own 12.00% of the company's stock.

Ladder Capital Trading Down 0.7%

Shares of NYSE:LADR traded down $0.08 during trading on Tuesday, reaching $11.39. The stock had a trading volume of 1,137,742 shares, compared to its average volume of 512,416. The business has a fifty day moving average price of $11.29 and a 200-day moving average price of $10.95. 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 stock has a market cap of $1.45 billion, a P/E ratio of 16.27, a PEG ratio of 9.77 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 $12.22.

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 for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The business had revenue of $56.26 million during the quarter, compared to analyst estimates of $58.57 million. Ladder Capital had a net margin of 20.05% and a return on equity of 7.07%. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, analysts anticipate that Ladder Capital Corp will post 1.03 earnings per share for the current fiscal year.

Ladder Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.92 annualized dividend and a yield of 8.1%. Ladder Capital's dividend payout ratio is 131.43%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Ladder Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Keefe, Bruyette & Woods upped their price target on shares of Ladder Capital from $11.75 to $12.00 and gave the company an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, Ladder Capital presently has an average rating of "Strong Buy" and an average price target of $12.00.

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.