Ladder Capital Corp (NYSE:LADR) Short Interest Up 52.0% in October

Ladder Capital Corp (NYSE:LADR) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,150,000 shares, an increase of 52.0% from the October 15th total of 756,600 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 733,100 shares, the days-to-cover ratio is currently 1.6 days.

Ladder Capital Price Performance

Ladder Capital stock traded down $0.06 during midday trading on Friday, hitting $11.64. The company’s stock had a trading volume of 364,979 shares, compared to its average volume of 636,366. Ladder Capital has a 12 month low of $10.10 and a 12 month high of $12.48. The company has a quick ratio of 54.44, a current ratio of 54.44 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average price is $11.54 and its 200-day moving average price is $11.51. The company has a market capitalization of $1.49 billion, a PE ratio of 15.32 and a beta of 1.94.

Ladder Capital (NYSE:LADR) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Ladder Capital had a return on equity of 9.14% and a net margin of 18.90%. The business had revenue of $128.64 million during the quarter, compared to analyst estimates of $60.85 million. During the same quarter last year, the company posted $0.28 EPS. Analysts anticipate that Ladder Capital will post 1 earnings per share for the current fiscal year.

Ladder Capital Announces Dividend

The company 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. The ex-dividend date was Monday, September 30th. This represents a $0.92 annualized dividend and a dividend yield of 7.90%. Ladder Capital’s dividend payout ratio (DPR) is presently 121.05%.

Analyst Upgrades and Downgrades

LADR has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and set a $13.50 price target on shares of Ladder Capital in a report on Friday, July 19th. Bank of America raised their price target on shares of Ladder Capital from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. B. Riley lifted their price target on Ladder Capital from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on Ladder Capital from $12.50 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, StockNews.com downgraded Ladder Capital from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.33.

Insider Activity

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

Hedge Funds Weigh In On Ladder Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its holdings in shares of Ladder Capital by 1,089.1% in the 3rd quarter. Jane Street Group LLC now owns 1,528,802 shares of the real estate investment trust’s stock valued at $17,734,000 after purchasing an additional 1,400,238 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in Ladder Capital in the 3rd quarter valued at approximately $6,907,000. Millennium Management LLC lifted its position in Ladder Capital by 92.0% in the 2nd quarter. Millennium Management LLC now owns 737,970 shares of the real estate investment trust’s stock worth $8,332,000 after buying an additional 353,530 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ladder Capital by 32.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,091,288 shares of the real estate investment trust’s stock valued at $12,321,000 after buying an additional 266,693 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Ladder Capital by 196.3% during the 3rd quarter. Stifel Financial Corp now owns 165,768 shares of the real estate investment trust’s stock valued at $1,923,000 after acquiring an additional 109,816 shares in the last quarter. Institutional investors and hedge funds own 62.25% of the company’s stock.

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.