Northern Trust Corp Reduces Position in Ladder Capital Corp $LADR

Key Points

• Northern Trust Corp has reduced its stake in Ladder Capital Corp by 3.0%, now holding approximately 1,141,738 shares valued at about $13 million.
• Other institutions have also adjusted their positions, with notable increases from GAMMA Investing LLC, which boosted its stake by 1,364.2% during the same quarter.
• Ladder Capital has received upgrades from analysts, with one upgrading the rating from "sell" to "hold" and a revised target price increasing to $12.00, indicating a generally positive outlook on the stock.

Northern Trust Corp lessened its stake in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,141,738 shares of the real estate investment trust's stock after selling 35,042 shares during the quarter. Northern Trust Corp owned approximately 0.90% of Ladder Capital worth $13,027,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. KBC Group NV purchased a new stake in shares of Ladder Capital during the first quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of Ladder Capital during the first quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in shares of Ladder Capital by 1,364.2% during the first quarter. GAMMA Investing LLC now owns 18,302 shares of the real estate investment trust's stock valued at $209,000 after purchasing an additional 17,052 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Ladder Capital during the fourth quarter valued at approximately $216,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Ladder Capital during the fourth quarter valued at approximately $241,000. Hedge funds and other institutional investors own 62.25% of the company's stock.

Insider Transactions at Ladder Capital

In other Ladder Capital news, Director Mark David Alexander sold 34,587 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $11.12, for a total value of $384,607.44. Following the completion of the transaction, the director owned 86,024 shares in the company, valued at approximately $956,586.88. This represents a 28.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 91,382 shares of company stock valued at $1,003,501 in the last ninety days. 12.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LADR shares. Wall Street Zen upgraded Ladder Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Keefe, Bruyette & Woods upped their target price on 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 issued a Buy rating to the company. According to data from MarketBeat, Ladder Capital currently has an average rating of "Strong Buy" and a consensus target price of $12.00.

Ladder Capital Price Performance

LADR opened at $11.60 on Thursday. The stock has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $10.95. The company has a current ratio of 31.28, a quick ratio of 31.28 and a debt-to-equity ratio of 1.86. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 9.90 and a beta of 1.09. Ladder Capital Corp has a 12-month low of $9.68 and a 12-month high of $12.27.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The business had revenue of $56.26 million during the quarter, compared to the consensus estimate of $58.57 million. Ladder Capital had a return on equity of 7.07% and a net margin of 20.05%.During the same quarter in the prior year, the company earned $0.31 earnings per share. Research analysts predict that Ladder Capital Corp will post 1.03 earnings per share for the current fiscal year.

Ladder Capital Announces Dividend

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

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