Ladder Capital (NYSE:LADR) Reaches New 52-Week Low - Here's What Happened

Key Points

• Ladder Capital shares hit a new 52-week low, trading as low as $8.84 and last changing hands near $8.82, below the prior close of $9.03.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $12.36; Keefe, Bruyette & Woods lowered its target to $10.75, while Bank of America maintained a $10.25 target.
• The REIT reported quarterly EPS of $0.24, in line with estimates, and revenue of $57.76 million. It declared a $0.23 quarterly dividend, equivalent to a 10.4% annualized yield, though its payout ratio is high at 219.05%.

Ladder Capital Corp (NYSE:LADR - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $8.84 and last traded at $8.8150, with a volume of 82581 shares. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Several analysts have commented on LADR shares. Bank of America restated 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 reaffirmed a "hold (c-)" rating on shares of Ladder Capital in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods cut 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 analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.36.

Ladder Capital Price Performance

The company has a debt-to-equity ratio of 2.81, a current ratio of 44.15 and a quick ratio of 44.15. The stock has a fifty day simple moving average of $9.68 and a 200-day simple moving average of $9.93. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 0.96 and a beta of 0.96.

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, hitting analysts' consensus estimates of $0.24. The business had revenue of $57.76 million for the quarter, compared to analysts' expectations 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 company earned $0.23 EPS. On average, equities research analysts anticipate that Ladder Capital Corp will post 0.72 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.92 dividend on an annualized basis and a yield of 10.4%. Ladder Capital's dividend payout ratio is 219.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Ladder Capital by 80.5% in the second quarter. Wellington Management Group LLP now owns 3,580,178 shares of the real estate investment trust's stock valued at $35,623,000 after purchasing an additional 1,596,839 shares during the period. Kestra Advisory Services LLC raised its position in shares of Ladder Capital by 473.9% in the first quarter. Kestra Advisory Services LLC now owns 309,011 shares of the real estate investment trust's stock valued at $3,019,000 after buying an additional 255,164 shares during the last quarter. State Street Corp boosted 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 worth $30,331,000 after acquiring an additional 129,665 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Ladder Capital by 10.4% during the second quarter. Allianz Asset Management GmbH now owns 1,027,255 shares of the real estate investment trust's stock worth $10,221,000 after acquiring an additional 97,147 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Ladder Capital during the 1st quarter valued at about $791,000. Hedge funds and other institutional investors own 62.25% of the company's stock.

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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