Ladder Capital (NYSE:LADR) Reaches New 1-Year Low - What's Next?

Key Points

• Ladder Capital shares hit a new 52-week low, trading as low as $8.48, below the previous close of $8.62. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $12.36. Keefe, Bruyette & Woods lowered its target to $10.75 while retaining an “outperform” rating, and Bank of America maintained a “neutral” view.
• The REIT reported quarterly EPS of $0.24, in line with estimates, and revenue of $57.76 million, above forecasts. It announced a quarterly dividend of $0.23 per share, representing a 10.8% annualized yield, though its payout ratio is elevated at 219.05%.

Ladder Capital Corp (NYSE:LADR - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $8.48 and last traded at $8.5150, with a volume of 1490328 shares traded. The stock had previously closed at $8.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Ladder Capital from $11.00 to $10.75 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Bank of America reaffirmed a "neutral" rating and issued a $10.25 price objective on shares of Ladder Capital in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Ladder Capital in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $12.36.

Ladder Capital Stock Performance

The company has a market cap of $1.08 billion, a P/E ratio of 20.27, a P/E/G ratio of 0.92 and a beta of 0.98. 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 business has a fifty day simple moving average of $9.60 and a two-hundred day simple moving average of $9.89.

Ladder Capital (NYSE:LADR - Get Free Report) last released its quarterly 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. The firm had revenue of $57.76 million during 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 in the prior year, the firm earned $0.23 EPS. On average, sell-side analysts anticipate that Ladder Capital Corp will post 0.72 EPS for the current year.

Ladder Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.92 annualized dividend and a yield of 10.8%. Ladder Capital's payout ratio is 219.05%.

Institutional Investors Weigh In On Ladder Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its position in shares of Ladder Capital by 473.9% during the first quarter. Kestra Advisory Services LLC now owns 309,011 shares of the real estate investment trust's stock worth $3,019,000 after purchasing an additional 255,164 shares in the last quarter. State Street Corp lifted its position in Ladder Capital by 4.5% during the second quarter. State Street Corp now owns 2,981,326 shares of the real estate investment trust's stock valued at $30,331,000 after purchasing an additional 129,665 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Ladder Capital by 80.5% in the 2nd quarter. Wellington Management Group LLP now owns 3,580,178 shares of the real estate investment trust's stock worth $35,623,000 after buying an additional 1,596,839 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Ladder Capital during the 2nd quarter valued at about $543,000. Finally, FJ Capital Management LLC bought a new position in shares of Ladder Capital in the 4th quarter valued at about $732,000. 62.25% of the stock is owned by hedge funds and other institutional investors.

About Ladder Capital

Ladder Capital Corp. is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, investing in and managing a diversified portfolio of commercial real estate assets and investments. Its activities are primarily concentrated in the United States.

Ladder Capital's platform includes commercial mortgage loans, commercial mortgage-backed securities and other commercial real estate-related investments. The company also owns and manages commercial real estate properties, including assets that can generate rental income through net lease arrangements.

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