Ladder Capital Corp (NASDAQ:LADR) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01, Bloomberg Earnings reports. The firm had revenue of $69.30 million for the quarter, compared to analyst estimates of $59.05 million. Ladder Capital Corp had a net margin of 15.32% and a return on equity of 3.93%. During the same period in the previous year, the company earned $0.40 earnings per share.
Shares of Ladder Capital Corp (NASDAQ LADR) traded up $0.24 on Friday, hitting $13.70. 818,955 shares of the stock were exchanged, compared to its average volume of 581,342. Ladder Capital Corp has a 12-month low of $12.82 and a 12-month high of $15.53.
In other Ladder Capital Corp news, CEO Brian Harris bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average cost of $13.41 per share, for a total transaction of $134,100.00. Following the completion of the transaction, the chief executive officer now directly owns 544,558 shares of the company’s stock, valued at approximately $7,302,522.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Gi Partners Fund Iii Lp sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $13.55, for a total transaction of $27,100,000.00. The disclosure for this sale can be found here.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ladder Capital Corp from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.00 price objective on shares of Ladder Capital Corp in a report on Friday, August 18th. Finally, BidaskClub raised shares of Ladder Capital Corp from a “sell” rating to a “hold” rating in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ladder Capital Corp currently has a consensus rating of “Buy” and an average price target of $15.75.
About Ladder Capital Corp
Ladder Capital Corp is a commercial real estate finance company. The Company’s segments include loans, securities, real estate and corporate/other. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans).
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