Ladder Capital Corp (NYSE: LADR – Get a rating) benefited from a sharp drop in short-term interest rates during August. As of August 15, there was short interest totaling 1,940,000 shares, down 28.7% from the July 31 total of 2,720,000 shares. Based on an average daily trading volume of 562,100 shares, the short interest ratio is currently 3.5 days. Currently, 1.7% of the company’s shares are sold short.
Institutional entries and exits
A number of hedge funds have recently bought and sold shares of the company. Strs Ohio increased its stake in Ladder Capital by 3.8% in Q1. Strs Ohio now owns 27,000 shares of the real estate investment trust worth $320,000 after buying an additional 1,000 shares last quarter. Mercer Global Advisors Inc. ADV increased its position in Ladder Capital shares by 13.0% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 11,475 shares of the real estate investment trust worth $136,000 after buying 1,322 additional shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in Ladder Capital shares by 9.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 16,401 shares of the real estate investment trust worth $173,000 after buying 1,435 additional shares in the last quarter. Teacher Retirement System of Texas increased its position in Ladder Capital stocks by 6.6% during the first quarter. Teacher Retirement System of Texas now owns 23,279 shares of the real estate investment trust worth $276,000 after buying 1,442 additional shares in the last quarter. Finally, Boston Partners increased its position in Ladder Capital shares by 3.3% during the first quarter. Boston Partners now owns 57,130 shares of the real estate investment trust worth $678,000 after buying an additional 1,800 shares last quarter. 58.27% of the shares are currently held by hedge funds and other institutional investors.
Laddered share capital performance
LADR shares were down $0.09 during Friday trading hours, hitting $11.41. 396,641 shares of the company were traded, against an average volume of 622,512. The company has a fifty-day simple moving average of $11.13 and a 200-day simple moving average of $11.40. The company has a current ratio of 89.45, a quick ratio of 89.45 and a debt ratio of 2.79. Ladder Capital has a 52-week low of $9.43 and a 52-week high of $12.69. The stock has a market capitalization of $1.45 billion, a price-earnings ratio of 14.26 and a beta of 1.88.
Laddered capital increases the dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 29. This represents an annualized dividend of $0.88 and a dividend yield of 7.71%. This is a positive change from Ladder Capital’s previous quarterly dividend of $0.20. Ladder Capital’s dividend payout ratio (DPR) is currently 110.00%.
Changes to analyst ratings
Several equity research analysts commented on the stock. JMP Securities reiterated a “buy” rating and issued a $13.50 price target on Ladder Capital shares in a research note on Friday, June 24. TheStreet upgraded shares of Ladder Capital from a “c” rating to a “b-” rating in a Friday, August 19 research note.
About Ladder Capital
The Lending segment issues first mortgage loans that are secured by cash flow commercial real estate; and originates and invests in on-balance sheet first mortgages secured by commercial real estate in transition, including rental, sale and renovation or repositioning.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected].
Before you consider Ladder Capital, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Ladder Capital wasn’t on the list.
Although Ladder Capital currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here