Phocas Financial Corp. Reduces Position in Ladder Capital Corp (NYSE:LADR)

Phocas Financial Corp. lessened its holdings in shares of Ladder Capital Corp (NYSE:LADR) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,004 shares of the real estate investment trust’s stock after selling 30,350 shares during the period. Phocas Financial Corp. owned about 0.39% of Ladder Capital worth $5,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC grew its stake in Ladder Capital by 13,513.5% in the third quarter. Quest Partners LLC now owns 7,079 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 7,027 shares during the period. MQS Management LLC purchased a new stake in Ladder Capital in the second quarter worth approximately $128,000. Algert Global LLC bought a new stake in shares of Ladder Capital in the second quarter worth $130,000. SG Americas Securities LLC bought a new stake in shares of Ladder Capital during the 1st quarter valued at about $148,000. Finally, TrueMark Investments LLC purchased a new stake in Ladder Capital during the second quarter valued at approximately $174,000. Institutional investors own 62.25% of the company’s stock.

Insider Activity

In other news, insider Robert Perelman sold 25,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $12.15, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 351,453 shares in the company, valued at $4,270,153.95. This trade represents a 6.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Pamela Mccormack sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $12.25, for a total transaction of $612,500.00. Following the transaction, the president now directly owns 548,863 shares of the company’s stock, valued at approximately $6,723,571.75. This trade represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LADR. Keefe, Bruyette & Woods upped their target price on shares of Ladder Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. B. Riley raised their target price on shares of Ladder Capital from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, July 29th. StockNews.com lowered Ladder Capital from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Bank of America lifted their target price on Ladder Capital from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $13.50 price objective on shares of Ladder Capital in a research note on Friday, August 30th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ladder Capital currently has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Ladder Capital Stock Performance

Shares of Ladder Capital stock opened at $11.65 on Tuesday. Ladder Capital Corp has a 12 month low of $10.10 and a 12 month high of $12.48. The business has a 50-day moving average of $11.54 and a 200 day moving average of $11.52. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.32 and a beta of 1.94. The company has a debt-to-equity ratio of 2.34, a current ratio of 54.44 and a quick ratio of 54.44.

Ladder Capital (NYSE:LADR) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Ladder Capital had a net margin of 18.90% and a return on equity of 9.14%. The company had revenue of $128.64 million during the quarter, compared to the consensus estimate of $60.85 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, sell-side analysts forecast that Ladder Capital Corp will post 1 earnings per share for the current year.

Ladder Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.90%. The ex-dividend date was Monday, September 30th. Ladder Capital’s dividend payout ratio (DPR) is presently 121.05%.

Ladder Capital Company Profile

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.