Wellington Management Group LLP Sells 59,542 Shares of Ladder Capital Corp $LADR

Key Points

• Wellington Management Group LLP reduced its stake in Ladder Capital Corp (NYSE:LADR) by 2.2%, selling 59,542 shares, and now owns 2,625,230 shares valued at approximately $29.95 million.
• Ladder Capital's stock has been given a mix of ratings, with one analyst rating it as "Strong Buy" and others issuing "Buy" and a "sell" rating, while the average target price is currently set at $12.75.
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized dividend yield of 8.0%, despite a dividend payout ratio of 131.43%.

Wellington Management Group LLP trimmed its stake in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,625,230 shares of the real estate investment trust's stock after selling 59,542 shares during the period. Wellington Management Group LLP owned about 2.07% of Ladder Capital worth $29,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mackenzie Financial Corp raised its holdings in shares of Ladder Capital by 7.6% during the first quarter. Mackenzie Financial Corp now owns 20,785 shares of the real estate investment trust's stock worth $237,000 after acquiring an additional 1,473 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Ladder Capital by 2.9% during the first quarter. Nisa Investment Advisors LLC now owns 61,118 shares of the real estate investment trust's stock worth $712,000 after acquiring an additional 1,741 shares during the period. Aviso Wealth Management raised its holdings in shares of Ladder Capital by 1.4% during the first quarter. Aviso Wealth Management now owns 128,485 shares of the real estate investment trust's stock worth $1,466,000 after acquiring an additional 1,812 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ladder Capital by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 49,336 shares of the real estate investment trust's stock worth $563,000 after acquiring an additional 2,251 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Ladder Capital during the first quarter worth $31,000. 62.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LADR. Wall Street Zen upgraded shares of Ladder Capital from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods raised their price objective on shares of Ladder Capital from $11.75 to $12.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $12.00.

Insider Buying and Selling at Ladder Capital

In other news, Director Mark David Alexander sold 34,587 shares of the business's stock in a transaction dated 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 directly owned 86,024 shares in the company, valued at $956,586.88. The trade was a 28.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 91,382 shares of company stock worth $1,003,501. 12.00% of the stock is owned by insiders.

Ladder Capital Stock Up 0.9%

LADR stock traded up $0.11 during midday trading on Friday, hitting $11.64. The company's stock had a trading volume of 572,204 shares, compared to its average volume of 544,194. The stock has a market capitalization of $1.48 billion, a P/E ratio of 16.62, a PEG ratio of 9.90 and a beta of 1.03. The company's fifty day moving average price is $11.10 and its 200 day moving average price is $10.95. Ladder Capital Corp has a twelve month low of $9.68 and a twelve month high of $12.36. 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 released its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $56.26 million for 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 period in the previous year, the business earned $0.31 EPS. As a group, equities research analysts predict that Ladder Capital Corp will post 1.03 EPS for the current year.

Ladder Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.23 per share. The ex-dividend date was Monday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 7.9%. Ladder Capital's payout ratio is currently 131.43%.

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.