Ladder Capital Corp (NYSE:LADR) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,278,010 shares, a growth of 66.3% from the October 31st total of 1,369,695 shares. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,665,592 shares, the days-to-cover ratio is currently 1.4 days.
LADR has been the subject of several research reports. B. Riley set a $18.00 price target on Ladder Capital and gave the stock a “buy” rating in a research note on Friday, November 2nd. Zacks Investment Research downgraded Ladder Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. downgraded Ladder Capital from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a research note on Wednesday, October 24th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $17.81.
Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new position in Ladder Capital in the 3rd quarter valued at about $159,000. Private Advisor Group LLC acquired a new position in Ladder Capital in the 2nd quarter valued at about $157,000. C M Bidwell & Associates Ltd. raised its stake in Ladder Capital by 348.9% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 11,740 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 9,125 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Ladder Capital in the 2nd quarter valued at about $205,000. Finally, Assetmark Inc. raised its stake in Ladder Capital by 62.9% in the 2nd quarter. Assetmark Inc. now owns 14,023 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 5,414 shares during the last quarter. 52.29% of the stock is owned by hedge funds and other institutional investors.
Ladder Capital (NYSE:LADR) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.18. Ladder Capital had a net margin of 31.29% and a return on equity of 13.85%. The firm had revenue of $135.10 million during the quarter, compared to the consensus estimate of $72.17 million. During the same quarter in the previous year, the company posted $0.35 EPS. On average, analysts expect that Ladder Capital will post 1.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 24th. Investors of record on Monday, December 10th will be paid a $0.57 dividend. This is an increase from Ladder Capital’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 7th. This represents a $2.28 annualized dividend and a yield of 13.01%. Ladder Capital’s payout ratio is presently 95.59%.
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About Ladder Capital
Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning.
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