Millennium Management LLC Has $962,000 Position in Ladder Capital Corp (NYSE:LADR)

Millennium Management LLC decreased its holdings in Ladder Capital Corp (NYSE:LADR - Free Report) by 86.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 0.07% of Ladder Capital worth $962,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LADR. Wellington Management Group LLP raised its holdings in Ladder Capital by 77.6% during the fourth quarter. Wellington Management Group LLP now owns 2,684,772 shares of the real estate investment trust's stock worth $30,043,000 after purchasing an additional 1,172,961 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ladder Capital during the 4th quarter valued at $7,981,000. Norges Bank bought a new stake in shares of Ladder Capital in the 4th quarter worth $5,764,000. Balyasny Asset Management L.P. raised its stake 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 worth $19,896,000 after buying an additional 461,739 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Ladder Capital by 98.9% in the fourth 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 period. 62.25% of the stock is owned by institutional investors and hedge funds.

Ladder Capital Price Performance

Shares of NYSE LADR traded up $0.10 during mid-day trading on Friday, reaching $10.62. The company had a trading volume of 644,556 shares, compared to its average volume of 655,586. The company has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $11.12. The stock has a market cap of $1.36 billion, a PE ratio of 12.35 and a beta of 1.01. The company has a current ratio of 38.96, a quick ratio of 38.96 and a debt-to-equity ratio of 2.05. Ladder Capital Corp has a 1-year low of $9.68 and a 1-year high of $12.48.

Ladder Capital (NYSE:LADR - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). Ladder Capital had a net margin of 21.36% and a return on equity of 8.77%. The company had revenue of $51.20 million during the quarter, compared to analyst estimates of $65.15 million. During the same quarter last year, the business earned $0.33 EPS. On average, equities analysts anticipate that Ladder Capital Corp will post 1.03 earnings per share for the current year.

Ladder Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.66%. Ladder Capital's dividend payout ratio is currently 112.20%.

Analyst Ratings Changes

LADR has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on Ladder Capital from $12.75 to $12.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Wall Street Zen lowered shares of Ladder Capital from a "buy" rating to a "hold" rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ladder Capital has a consensus rating of "Moderate Buy" and an average target price of $13.17.

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.