Rhumbline Advisers raised its holdings in shares of Ladder Capital Corp (NASDAQ:LADR) by 58.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,908 shares of the real estate investment trust’s stock after buying an additional 30,161 shares during the period. Rhumbline Advisers owned about 0.10% of Ladder Capital Corp worth $1,098,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its position in Ladder Capital Corp by 50.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 329,902 shares of the real estate investment trust’s stock valued at $4,424,000 after buying an additional 111,040 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Ladder Capital Corp during the second quarter worth $6,129,000. Global X Management Co. LLC lifted its position in shares of Ladder Capital Corp by 4.8% during the second quarter. Global X Management Co. LLC now owns 653,546 shares of the real estate investment trust’s stock worth $8,764,000 after purchasing an additional 29,722 shares in the last quarter. Barnett & Company Inc. lifted its position in shares of Ladder Capital Corp by 848.9% during the second quarter. Barnett & Company Inc. now owns 148,053 shares of the real estate investment trust’s stock worth $1,985,000 after purchasing an additional 132,450 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Ladder Capital Corp by 1,039.1% during the second quarter. Bessemer Group Inc. now owns 36,724 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 33,500 shares in the last quarter.
In related news, CEO Brian Harris bought 10,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average price of $13.41 per share, with a total value 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 $7,302,522.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Ladder Capital Corp (LADR) opened at 13.61 on Friday. The stock’s 50 day moving average is $13.52 and its 200-day moving average is $13.96. The firm has a market capitalization of $1.17 billion and a PE ratio of 11.90. Ladder Capital Corp has a 52-week low of $12.14 and a 52-week high of $15.53.
Ladder Capital Corp (NASDAQ:LADR) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. The firm had revenue of $52.10 million during the quarter, compared to analysts’ expectations of $76.60 million. Ladder Capital Corp had a return on equity of 3.93% and a net margin of 15.32%. The company’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities analysts expect that Ladder Capital Corp will post $1.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.82%.
LADR has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $16.00 target price on shares of Ladder Capital Corp in a research report on Friday, August 18th. Zacks Investment Research raised shares of Ladder Capital Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub raised shares of Ladder Capital Corp from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $15.67.
Ladder Capital Corp Profile
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).
Want to see what other hedge funds are holding LADR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ladder Capital Corp (NASDAQ:LADR).
Receive News & Ratings for Ladder Capital Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ladder Capital Corp and related companies with MarketBeat.com's FREE daily email newsletter.