Nisa Investment Advisors LLC Trims Stake in Ladder Capital Corp (NYSE:LADR)

Posted by Defense World Staff on Jul 29th, 2023

Nisa Investment Advisors LLC cut its stake in Ladder Capital Corp (NYSE:LADR – Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,379 shares of the real estate investment trust’s stock after selling 10,000 shares during the period. Nisa Investment Advisors LLC owned about 0.08% of Ladder Capital worth $958,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LADR. Norges Bank bought a new position in shares of Ladder Capital in the fourth quarter worth about $10,883,000. Millennium Management LLC grew its holdings in shares of Ladder Capital by 233.4% in the second quarter. Millennium Management LLC now owns 1,498,869 shares of the real estate investment trust’s stock worth $15,798,000 after purchasing an additional 1,049,301 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Ladder Capital by 23.6% in the first quarter. Jennison Associates LLC now owns 5,325,318 shares of the real estate investment trust’s stock worth $50,324,000 after purchasing an additional 1,016,191 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Ladder Capital by 1,329.3% in the first quarter. Royal Bank of Canada now owns 1,062,319 shares of the real estate investment trust’s stock worth $12,610,000 after purchasing an additional 987,995 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Ladder Capital in the fourth quarter worth about $4,742,000. 60.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Ladder Capital from $13.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, April 13th. BTIG Research increased their target price on shares of Ladder Capital from $10.00 to $12.50 and gave the stock a “buy” rating in a report on Monday, July 24th. Raymond James cut shares of Ladder Capital from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $12.50 in a report on Thursday. JMP Securities increased their target price on shares of Ladder Capital from $12.00 to $13.00 in a report on Thursday. Finally, StockNews.com assumed coverage on shares of Ladder Capital in a report on Thursday, May 18th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Ladder Capital Stock Up 2.2 %

NYSE:LADR opened at $11.28 on Friday. Ladder Capital Corp has a fifty-two week low of $8.67 and a fifty-two week high of $12.18. The stock has a market capitalization of $1.43 billion, a P/E ratio of 10.07 and a beta of 1.89. The company has a debt-to-equity ratio of 2.67, a quick ratio of 87.81 and a current ratio of 87.81. The company’s 50-day simple moving average is $10.62 and its 200-day simple moving average is $10.29.

Ladder Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.16%. The ex-dividend date was Thursday, June 29th. Ladder Capital’s dividend payout ratio is currently 82.14%.

Ladder Capital Profile

(Free Report)

Ladder Capital Corp operates as an internally-managed real estate investment trust in the United States. The company 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.