Short Interest in Ladder Capital Corp (NYSE:LADR) Decreases By 17.8%

Ladder Capital Corp (NYSE:LADR) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 862,800 shares, a drop of 17.8% from the February 13th total of 1,050,000 shares. Based on an average daily trading volume, of 581,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Ladder Capital from $13.00 to $12.75 and set an “outperform” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded Ladder Capital from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, B. Riley raised Ladder Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.29.

Ladder Capital Price Performance

Shares of NYSE LADR traded up $0.04 during midday trading on Thursday, reaching $11.70. 57,236 shares of the company were exchanged, compared to its average volume of 524,185. Ladder Capital has a one year low of $10.20 and a one year high of $12.48. The stock has a market cap of $1.49 billion, a P/E ratio of 13.60 and a beta of 1.91. The company has a quick ratio of 38.96, a current ratio of 38.96 and a debt-to-equity ratio of 2.05. The stock’s 50-day moving average price is $11.43 and its 200-day moving average price is $11.53.

Ladder Capital (NYSE:LADR) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). Ladder Capital had a return on equity of 8.77% and a net margin of 21.36%. On average, sell-side analysts anticipate that Ladder Capital will post 1.03 earnings per share for the current fiscal year.

Ladder Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.92 annualized dividend and a yield of 7.87%. Ladder Capital’s dividend payout ratio is presently 106.98%.

Hedge Funds Weigh In On Ladder Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC grew its stake in shares of Ladder Capital by 1,089.1% in the third quarter. Jane Street Group LLC now owns 1,528,802 shares of the real estate investment trust’s stock worth $17,734,000 after purchasing an additional 1,400,238 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Ladder Capital by 77.6% during the 4th quarter. Wellington Management Group LLP now owns 2,684,772 shares of the real estate investment trust’s stock worth $30,043,000 after buying an additional 1,172,961 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Ladder Capital in the 4th quarter valued at about $7,981,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Ladder Capital in the third quarter valued at about $6,907,000. Finally, Norges Bank acquired a new stake in shares of Ladder Capital in the fourth quarter valued at about $5,764,000. 62.25% of the stock is currently owned by institutional investors and hedge funds.

About Ladder Capital

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.