Van ECK Associates Corp Cuts Stake in Ladder Capital Corp $LADR

Key Points

• Van ECK Associates reduced its Ladder Capital stake by 16.3% in the second quarter, selling 217,956 shares and retaining 1.12 million shares worth approximately $11.2 million, or 0.89% of the company.
• Ladder Capital reported quarterly EPS of $0.24, in line with analyst expectations, while revenue of $57.76 million exceeded estimates. The REIT declared a quarterly dividend of $0.23 per share, representing a 9.4% annualized yield.
• The stock opened at $9.82 and has a consensus analyst rating of Hold, with an average price target of $12.36. Institutional investors own 62.25% of Ladder Capital’s shares.

Van ECK Associates Corp cut its holdings in shares of Ladder Capital Corp (NYSE:LADR - Free Report) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,123,098 shares of the real estate investment trust's stock after selling 217,956 shares during the quarter. Van ECK Associates Corp owned 0.89% of Ladder Capital worth $11,175,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Seven Mile Advisory boosted its stake in shares of Ladder Capital by 4.0% in the 4th quarter. Seven Mile Advisory now owns 25,719 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 992 shares in the last quarter. Nebula Research & Development LLC raised its position in Ladder Capital by 3.1% in the 2nd quarter. Nebula Research & Development LLC now owns 33,835 shares of the real estate investment trust's stock worth $364,000 after purchasing an additional 1,008 shares during the period. Royal Bank of Canada lifted its stake in Ladder Capital by 2.6% in the first quarter. Royal Bank of Canada now owns 40,823 shares of the real estate investment trust's stock worth $399,000 after purchasing an additional 1,026 shares during the last quarter. ProShare Advisors LLC lifted its stake in Ladder Capital by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 20,883 shares of the real estate investment trust's stock worth $230,000 after purchasing an additional 1,343 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Ladder Capital by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 60,836 shares of the real estate investment trust's stock valued at $654,000 after buying an additional 1,416 shares during the period. 62.25% of the stock is currently owned by institutional investors.

Ladder Capital Stock Performance

NYSE:LADR opened at $9.82 on Tuesday. The company has a fifty day moving average of $9.88 and a 200 day moving average of $10.06. Ladder Capital Corp has a 52 week low of $9.38 and a 52 week high of $11.92. The company has a quick ratio of 44.15, a current ratio of 44.15 and a debt-to-equity ratio of 2.81. The firm has a market capitalization of $1.25 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.05 and a beta of 0.95.

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

Ladder Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date was Tuesday, June 30th. Ladder Capital's payout ratio is currently 219.05%.

Wall Street Analyst Weigh In

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

Ladder Capital Profile

Ladder Capital Corp NYSE: LADR is a publicly traded commercial real estate finance company structured as a real estate investment trust. The firm specializes in originating, acquiring and managing a diversified portfolio of commercial mortgage loans, subordinate financings such as mezzanine loans and B-notes, and equity investments. In addition to direct lending activities, Ladder Capital invests in and manages commercial mortgage‐backed securities (CMBS) and commercial real estate collateralized loan obligations (CRE CLOs), providing financing across a range of property types including office, retail, multifamily, industrial and hospitality assets.

Since its inception in 2008, Ladder Capital has developed a platform that supports both balance-sheet lending and structured securitization.

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