Millennium Management LLC Reduces Position in Ladder Capital Corp (NYSE:LADR)

Millennium Management LLC lessened its stake in Ladder Capital Corp (NYSE:LADR - Free Report) by 86.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,000 shares of the real estate investment trust's stock after selling 550,963 shares during the quarter. Millennium Management LLC owned approximately 0.07% of Ladder Capital worth $962,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake 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 worth $30,043,000 after buying an additional 1,172,961 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Ladder Capital by 35.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,777,974 shares of the real estate investment trust's stock worth $19,896,000 after purchasing an additional 461,739 shares during the last quarter. Victory Capital Management Inc. grew its stake in Ladder Capital by 2.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,680,014 shares of the real estate investment trust's stock valued at $18,799,000 after purchasing an additional 39,695 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Ladder Capital by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,678,115 shares of the real estate investment trust's stock valued at $18,778,000 after purchasing an additional 45,040 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Ladder Capital by 27.2% during the 4th quarter. Van ECK Associates Corp now owns 1,223,151 shares of the real estate investment trust's stock valued at $13,687,000 after purchasing an additional 261,681 shares during the last quarter. Hedge funds and other institutional investors own 62.25% of the company's stock.

Wall Street Analysts Forecast Growth

LADR has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Ladder Capital from $12.75 to $12.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Wall Street Zen downgraded Ladder Capital from a "buy" rating to a "hold" rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ladder Capital has an average rating of "Moderate Buy" and a consensus price target of $13.17.

Ladder Capital Price Performance

LADR stock traded up $0.06 during mid-day trading on Monday, hitting $10.70. 482,698 shares of the stock were exchanged, compared to its average volume of 654,898. The company has a debt-to-equity ratio of 2.05, a current ratio of 38.96 and a quick ratio of 38.96. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 12.44 and a beta of 1.01. The business has a fifty day moving average price of $10.40 and a 200 day moving average price of $11.11. Ladder Capital Corp has a 12 month low of $9.68 and a 12 month high of $12.48.

Ladder Capital (NYSE:LADR - Get Free Report) last posted its quarterly 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). Ladder Capital had a return on equity of 8.77% and a net margin of 21.36%. The business had revenue of $51.20 million for the quarter, compared to analysts' expectations of $65.15 million. During the same period last year, the business posted $0.33 earnings per share. On average, sell-side analysts anticipate that Ladder Capital Corp will post 1.03 EPS for the current year.

Ladder Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.92 annualized dividend and a yield of 8.60%. Ladder Capital's payout ratio is 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.