Prudential Financial Inc. Has $2,526,000 Stake in Ladder Capital Corp (LADR)
Prudential Financial Inc. reduced its stake in shares of Ladder Capital Corp (NASDAQ:LADR) by 12.4% during the third quarter, Holdings Channel reports. The institutional investor owned 190,775 shares of the company’s stock after selling 27,109 shares during the period. Prudential Financial Inc. owned approximately 0.30% of Ladder Capital Corp worth $2,526,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Orinda Asset Management LLC acquired a new stake in Ladder Capital Corp during the third quarter valued at about $1,287,000. HGI Capital Management LLC acquired a new stake in Ladder Capital Corp during the second quarter valued at about $1,087,000. Relative Value Partners Group LLC raised its stake in Ladder Capital Corp by 21.1% in the second quarter. Relative Value Partners Group LLC now owns 134,988 shares of the company’s stock valued at $1,647,000 after buying an additional 23,519 shares in the last quarter. Advisors Capital Management LLC acquired a new stake in Ladder Capital Corp during the third quarter valued at about $3,252,000. Finally, Royal Bank of Canada raised its stake in Ladder Capital Corp by 54.1% in the second quarter. Royal Bank of Canada now owns 32,402 shares of the company’s stock valued at $395,000 after buying an additional 11,379 shares in the last quarter.
Shares of Ladder Capital Corp (NASDAQ:LADR) traded up 0.43% during trading on Friday, hitting $14.04. The stock had a trading volume of 156,853 shares. Ladder Capital Corp has a 52 week low of $8.64 and a 52 week high of $15.53. The company has a market capitalization of $915.41 million and a price-to-earnings ratio of 16.23. The company’s 50 day moving average price is $14.11 and its 200 day moving average price is $13.23.
Ladder Capital Corp (NASDAQ:LADR) last issued its earnings results on Thursday, November 3rd. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. During the same period last year, the company earned $0.40 earnings per share. Analysts predict that Ladder Capital Corp will post $1.49 earnings per share for the current year.
The company also recently announced a dividend, which will be paid on Tuesday, January 24th. Stockholders of record on Tuesday, December 27th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, December 22nd.
Several analysts have issued reports on LADR shares. Bank of America lowered Ladder Capital Corp from a “buy” rating to a “neutral” rating in a research note on Thursday, December 15th. JMP Securities restated a “buy” rating on shares of Ladder Capital Corp in a research note on Wednesday, November 16th. Keefe, Bruyette & Woods upgraded Ladder Capital Corp from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Tuesday, December 13th. Finally, J P Morgan Chase & Co restated a “buy” rating and issued a $14.50 price objective on shares of Ladder Capital Corp in a research note on Friday, November 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ladder Capital Corp presently has a consensus rating of “Buy” and an average price target of $14.17.
In other news, major shareholder Investors Ltd. Towerbrook sold 4,441,661 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $13.60, for a total value of $60,406,589.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Ladder Capital Corp Company Profile
Ladder Capital Corp is a commercial real estate finance company. The Company’s segments include loans, securities and real estate. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans). The securities segment comprises all of the Company’s activities related to commercial real estate securities, which include investments in commercial mortgage-backed securities (CMBS) and United States Agency Securities.
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.