State Street Corp Grows Stock Holdings in Ladder Capital Corp $LADR

Key Points

• State Street increased its Ladder Capital stake by 4.5% in the second quarter to 2.98 million shares, representing 2.35% of the REIT. Institutional investors collectively own 62.25% of the stock.
• Ladder Capital reported quarterly EPS of $0.24, matching estimates, while revenue of $57.76 million exceeded the $56.50 million consensus forecast. Shares recently opened at $9.09, near the company’s 52-week low.
• The company declared a quarterly dividend of $0.23 per share, or $0.92 annually, implying a 10.1% yield. Analysts’ average rating is “Hold,” with an average price target of $12.36.

State Street Corp raised its holdings in Ladder Capital Corp (NYSE:LADR - Free Report) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,981,326 shares of the real estate investment trust's stock after purchasing an additional 129,665 shares during the quarter. State Street Corp owned 2.35% of Ladder Capital worth $30,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Palogic Value Management L.P. lifted its stake in Ladder Capital by 1.8% in the second quarter. Palogic Value Management L.P. now owns 146,100 shares of the real estate investment trust's stock valued at $1,454,000 after purchasing an additional 2,565 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Ladder Capital in the second quarter valued at approximately $131,000. Allianz Asset Management GmbH raised its position in shares of Ladder Capital by 10.4% in the second quarter. Allianz Asset Management GmbH now owns 1,027,255 shares of the real estate investment trust's stock valued at $10,221,000 after purchasing an additional 97,147 shares during the period. Corient Private Wealth LP purchased a new stake in shares of Ladder Capital during the 2nd quarter valued at approximately $117,000. Finally, HB Wealth Management LLC lifted its stake in shares of Ladder Capital by 12.4% during the 2nd quarter. HB Wealth Management LLC now owns 20,235 shares of the real estate investment trust's stock valued at $201,000 after buying an additional 2,239 shares in the last quarter. 62.25% of the stock is owned by hedge funds and other institutional investors.

Ladder Capital Stock Performance

NYSE:LADR opened at $9.09 on Friday. Ladder Capital Corp has a 1-year low of $9.00 and a 1-year high of $11.48. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.01 and a beta of 0.96. The business has a 50 day moving average of $9.74 and a 200 day moving average of $9.96. The company has a debt-to-equity ratio of 2.81, a current ratio of 44.15 and a quick ratio of 44.15.

Ladder Capital (NYSE:LADR - Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Ladder Capital had a net margin of 12.62% and a return on equity of 5.92%. The company had revenue of $57.76 million for the quarter, compared to analyst estimates of $56.50 million. During the same quarter last year, the firm earned $0.23 EPS. On average, sell-side analysts predict that Ladder Capital Corp will post 0.72 earnings per share for the current fiscal year.

Ladder Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date is Wednesday, September 30th. Ladder Capital's dividend payout ratio is currently 219.05%.

Analyst Upgrades and Downgrades

LADR has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Ladder Capital in a report on Friday, August 7th. Keefe, Bruyette & Woods cut their price target on shares of Ladder Capital from $11.00 to $10.75 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Finally, Bank of America restated a "neutral" rating and set a $10.25 price target on shares of Ladder Capital in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Ladder Capital currently has an average rating of "Hold" and an average price target of $12.36.

Ladder Capital Company Profile

Ladder Capital Corp. NYSE: LADR is a commercial real estate finance company organized as a real estate investment trust (REIT). The company provides financing to commercial property owners and invests in a portfolio of commercial real estate-related assets, with a focus on generating income from real estate debt and investments.

Its business activities include originating and acquiring first mortgage loans, subordinate or mezzanine loans, commercial mortgage-backed securities and other real estate-related debt investments.

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