Jennison Associates LLC Acquires 108,079 Shares of Ladder Capital Corp (NYSE:LADR)

Jennison Associates LLC lifted its holdings in Ladder Capital Corp (NYSE:LADR) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,767,687 shares of the real estate investment trust’s stock after purchasing an additional 108,079 shares during the quarter. Jennison Associates LLC owned 5.30% of Ladder Capital worth $78,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Quest Partners LLC raised its position in Ladder Capital by 13,513.5% in the 3rd quarter. Quest Partners LLC now owns 7,079 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 7,027 shares during the last quarter. MQS Management LLC purchased a new position in shares of Ladder Capital during the second quarter valued at approximately $128,000. Algert Global LLC bought a new position in Ladder Capital during the second quarter valued at approximately $130,000. SG Americas Securities LLC purchased a new stake in Ladder Capital in the first quarter worth approximately $148,000. Finally, TrueMark Investments LLC bought a new stake in Ladder Capital in the 2nd quarter worth approximately $174,000. 62.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on LADR shares. Bank of America lifted their price objective on Ladder Capital from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. JMP Securities reaffirmed a “market outperform” rating and set a $13.50 target price on shares of Ladder Capital in a report on Friday, August 30th. Keefe, Bruyette & Woods lifted their price target on shares of Ladder Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. B. Riley upped their price objective on Ladder Capital from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, StockNews.com downgraded Ladder Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Ladder Capital Price Performance

NYSE:LADR opened at $11.62 on Thursday. The business’s 50-day simple moving average is $11.53 and its two-hundred day simple moving average is $11.53. Ladder Capital Corp has a 52 week low of $10.10 and a 52 week high of $12.48. The stock has a market cap of $1.48 billion, a PE ratio of 15.28 and a beta of 1.94. The company has a quick ratio of 54.44, a current ratio of 54.44 and a debt-to-equity ratio of 2.34.

Ladder Capital (NYSE:LADR) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Ladder Capital had a return on equity of 9.14% and a net margin of 18.90%. The company had revenue of $128.64 million for the quarter, compared to the consensus estimate of $60.85 million. During the same quarter last year, the company earned $0.28 EPS. As a group, analysts forecast that Ladder Capital Corp will post 1 EPS for the current fiscal year.

Ladder Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date of this dividend was Monday, September 30th. Ladder Capital’s payout ratio is 121.05%.

Insider Transactions at Ladder Capital

In related news, insider Robert Perelman sold 25,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.15, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 351,453 shares of the company’s stock, valued at approximately $4,270,153.95. This trade represents a 6.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Pamela Mccormack sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $12.25, for a total value of $612,500.00. Following the sale, the president now directly owns 548,863 shares in the company, valued at $6,723,571.75. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Ladder Capital Company Profile

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. It 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.