Zacks Investment Research downgraded shares of Ladder Capital (NYSE:LADR) from a buy rating to a hold rating in a report published on Saturday morning.
According to Zacks, “Ladder Capital Corp is a commercial real estate finance company. The Company operates in three segments: Loans, Securities and Real Estate. It focused on midmarket senior secured commercial real estate first mortgage loans, investment grade-rated securities secured by first mortgage loans on commercial real estate and investing in net leased and other commercial real estate. The company also provides services of the commercial real estate industry which includes origination, credit, underwriting, structuring, capital markets and asset management. Ladder Capital Corp is headquartered in New York City. “
A number of other brokerages have also recently commented on LADR. ValuEngine cut Ladder Capital from a strong-buy rating to a buy rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a buy rating and set a $16.50 target price on shares of Ladder Capital in a report on Thursday, March 1st. Finally, Bank of America upgraded Ladder Capital from a neutral rating to a buy rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $16.67.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 8.27%. The ex-dividend date of this dividend is Friday, March 9th. Ladder Capital’s dividend payout ratio (DPR) is presently 127.27%.
A number of large investors have recently made changes to their positions in LADR. California Public Employees Retirement System grew its holdings in Ladder Capital by 10.2% during the 2nd quarter. California Public Employees Retirement System now owns 57,240 shares of the real estate investment trust’s stock valued at $768,000 after buying an additional 5,300 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in Ladder Capital by 9.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 79,506 shares of the real estate investment trust’s stock valued at $1,066,000 after buying an additional 7,144 shares during the last quarter. State Street Corp grew its holdings in Ladder Capital by 50.6% during the 2nd quarter. State Street Corp now owns 1,209,568 shares of the real estate investment trust’s stock valued at $16,219,000 after buying an additional 406,141 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Ladder Capital by 63.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,860 shares of the real estate investment trust’s stock worth $763,000 after purchasing an additional 22,123 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Ladder Capital by 45.8% during the second quarter. California State Teachers Retirement System now owns 125,052 shares of the real estate investment trust’s stock worth $1,677,000 after purchasing an additional 39,300 shares during the last quarter. Hedge funds and other institutional investors own 49.53% of the company’s stock.
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About Ladder Capital
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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