Ladder Capital (NYSE:LADR) Sets New 12-Month Low - Here's What Happened

Key Points

• Ladder Capital hit a new 52-week low, trading as low as $9.60 and ending the day down about 1.6%.
• Despite the weak stock performance, the company recently reported quarterly earnings of $0.24 per share, matching estimates, and revenue of $57.76 million, slightly above expectations.
• The stock still carries a Moderate Buy consensus from analysts with a price target of $12.75, though one firm recently trimmed its target while the company maintains a high dividend yield of 9.6%.

Ladder Capital Corp (NYSE:LADR - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $9.60 and last traded at $9.6260, with a volume of 91734 shares. The stock had previously closed at $9.75.

Analyst Ratings Changes

A number of brokerages have weighed in on LADR. Wall Street Zen raised Ladder Capital from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings cut Ladder Capital from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on Ladder Capital from $11.50 to $11.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ladder Capital has an average rating of "Moderate Buy" and a consensus price target of $12.75.

Ladder Capital Stock Down 1.6%

The company has a market capitalization of $1.22 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 0.91 and a beta of 0.95. The company has a debt-to-equity ratio of 2.79, a quick ratio of 58.90 and a current ratio of 58.90. The firm's fifty day moving average is $10.06 and its 200-day moving average is $10.28.

Ladder Capital (NYSE:LADR - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $57.76 million during the quarter, compared to the consensus estimate of $56.50 million. Ladder Capital had a net margin of 13.82% and a return on equity of 5.73%. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, equities research analysts predict that Ladder Capital Corp will post 0.75 EPS for the current year.

Ladder Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 9.6%. Ladder Capital's dividend payout ratio is 209.09%.

Insider Activity at Ladder Capital

In other news, insider Robert Perelman sold 17,505 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $10.25, for a total value of $179,426.25. Following the completion of the transaction, the insider directly owned 428,684 shares in the company, valued at approximately $4,394,011. This represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.60% of the company's stock.

Hedge Funds Weigh In On Ladder Capital

A number of institutional investors and hedge funds have recently bought and sold shares of LADR. GAMMA Investing LLC boosted its stake in shares of Ladder Capital by 63.8% during the fourth quarter. GAMMA Investing LLC now owns 2,390 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 931 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Ladder Capital by 500.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,000 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 2,500 shares during the period. CENTRAL TRUST Co bought a new position in Ladder Capital in the 1st quarter valued at approximately $33,000. Sunbelt Securities Inc. raised its holdings in Ladder Capital by 48,988.9% in the 1st quarter. Sunbelt Securities Inc. now owns 4,418 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 4,409 shares during the last quarter. Finally, KBC Group NV acquired a new stake in Ladder Capital during the 1st quarter worth approximately $51,000. Institutional investors and hedge funds own 62.25% of the company's stock.

About Ladder Capital

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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