Teacher Retirement System of Texas Sells 32,830 Shares of Ladder Capital Corp (NYSE:LADR)

Teacher Retirement System of Texas lowered its stake in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 37.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,833 shares of the real estate investment trust's stock after selling 32,830 shares during the period. Teacher Retirement System of Texas' holdings in Ladder Capital were worth $626,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in shares of Ladder Capital by 77.6% in the 4th 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 buying an additional 1,172,961 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Ladder Capital in the 4th quarter valued at $7,981,000. Norges Bank purchased a new position in shares of Ladder Capital in the 4th quarter valued at $5,764,000. Balyasny Asset Management L.P. grew its position in shares of Ladder Capital by 35.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,777,974 shares of the real estate investment trust's stock valued at $19,896,000 after buying an additional 461,739 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Ladder Capital by 98.9% in the 4th quarter. Franklin Resources Inc. now owns 832,848 shares of the real estate investment trust's stock valued at $9,320,000 after buying an additional 414,135 shares during the last quarter. Hedge funds and other institutional investors own 62.25% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LADR. Wall Street Zen upgraded shares of Ladder Capital from a "sell" rating to a "hold" rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on shares of Ladder Capital from $11.50 to $11.75 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $13.15.

Ladder Capital Stock Down 0.4%

LADR traded down $0.04 during trading on Friday, hitting $11.03. The company had a trading volume of 986,084 shares, compared to its average volume of 682,709. The company has a market cap of $1.41 billion, a PE ratio of 13.45, a P/E/G ratio of 3.32 and a beta of 1.00. Ladder Capital Corp has a 1-year low of $9.68 and a 1-year high of $12.48. The business has a 50-day moving average of $10.72 and a 200-day moving average of $10.95. The company has a debt-to-equity ratio of 1.83, a current ratio of 48.72 and a quick ratio of 48.71.

Ladder Capital (NYSE:LADR - Get Free Report) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.02). The firm had revenue of $51.20 million during the quarter, compared to analyst estimates of $65.15 million. Ladder Capital had a return on equity of 7.82% and a net margin of 21.81%. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, analysts forecast that Ladder Capital Corp will post 1.03 earnings per share for the current year.

Ladder Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.23 per share. The ex-dividend date was Monday, June 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.34%. Ladder Capital's payout ratio is presently 112.20%.

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.