Ladder Capital (NYSE:LADR) Shares Gap Up After Earnings Beat

Shares of Ladder Capital Corp (NYSE:LADR) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $8.82, but opened at $9.33. Ladder Capital shares last traded at $9.1640, with a volume of 218,190 shares changing hands.

The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Ladder Capital had a net margin of 12.62% and a return on equity of 5.92%. The firm had revenue of $113.11 million for the quarter, compared to analysts’ expectations of $79.67 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year.

Ladder Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.0%. Ladder Capital’s dividend payout ratio is currently 219.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LADR. Zacks Research upgraded shares of Ladder Capital from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Keefe, Bruyette & Woods lowered their target price on shares of Ladder Capital from $10.75 to $10.25 and set an “outperform” rating for the company in a research note on Friday, October 9th. Weiss Ratings downgraded shares of Ladder Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Bank of America reissued a “neutral” rating and issued a $10.25 target price on shares of Ladder Capital in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.29.

Institutional Investors Weigh In On Ladder Capital

Several hedge funds and other institutional investors have recently made changes to their positions in LADR. Royal Bank of Canada increased its stake in shares of Ladder Capital by 2.6% during the first quarter. Royal Bank of Canada now owns 40,823 shares of the real estate investment trust’s stock worth $399,000 after acquiring an additional 1,026 shares during the period. Ruggaard & Associates LLC raised its holdings in Ladder Capital by 3.6% during the fourth quarter. Ruggaard & Associates LLC now owns 45,738 shares of the real estate investment trust’s stock worth $503,000 after purchasing an additional 1,600 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Ladder Capital by 2.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 67,881 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 1,851 shares during the period. BROOKFIELD Corp ON lifted its position in Ladder Capital by 52.7% in the first quarter. BROOKFIELD Corp ON now owns 5,414 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,868 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Ladder Capital by 3.8% in the second quarter. Handelsbanken Fonder AB now owns 54,200 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 62.25% of the company’s stock.

Ladder Capital Price Performance

The stock has a fifty day simple moving average of $9.46 and a two-hundred day simple moving average of $9.83. The company has a market cap of $1.16 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 0.91 and a beta of 0.98. The company has a current ratio of 44.15, a quick ratio of 44.15 and a debt-to-equity ratio of 2.81.

Ladder Capital Company Profile

Ladder Capital Corp. is a commercial real estate finance company organized as a real estate investment trust (REIT). The company focuses on originating, acquiring, investing in and managing a diversified portfolio of commercial real estate assets and investments. Its activities are primarily concentrated in the United States.

Ladder Capital’s platform includes commercial mortgage loans, commercial mortgage-backed securities and other commercial real estate-related investments. The company also owns and manages commercial real estate properties, including assets that can generate rental income through net lease arrangements.