The Manufacturers Life Insurance Company Sells 1,327 Shares of Ladder Capital Corp (NYSE:LADR)

The Manufacturers Life Insurance Company cut its position in Ladder Capital Corp (NYSE:LADR) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,445 shares of the real estate investment trust’s stock after selling 1,327 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ladder Capital were worth $690,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Van ECK Associates Corp raised its position in Ladder Capital by 32.3% in the second quarter. Van ECK Associates Corp now owns 1,091,288 shares of the real estate investment trust’s stock worth $12,321,000 after acquiring an additional 266,693 shares during the period. Principal Financial Group Inc. boosted its holdings in Ladder Capital by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,020,143 shares of the real estate investment trust’s stock valued at $23,434,000 after purchasing an additional 96,573 shares during the period. Cetera Advisors LLC grew its position in Ladder Capital by 12.8% during the first quarter. Cetera Advisors LLC now owns 27,936 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 3,161 shares in the last quarter. Millennium Management LLC increased its position in shares of Ladder Capital by 92.0% in the second quarter. Millennium Management LLC now owns 737,970 shares of the real estate investment trust’s stock worth $8,332,000 after purchasing an additional 353,530 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Ladder Capital during the 3rd quarter valued at $295,000. 62.25% of the stock is owned by institutional investors.

Ladder Capital Price Performance

LADR opened at $11.84 on Friday. Ladder Capital Corp has a 12-month low of $10.10 and a 12-month high of $12.48. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 15.58 and a beta of 1.93. The stock has a fifty day simple moving average of $11.53 and a two-hundred day simple moving average of $11.60. The company has a current ratio of 54.44, a quick ratio of 54.44 and a debt-to-equity ratio of 2.34.

Ladder Capital (NYSE:LADR) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.30 EPS for the quarter, beating 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 firm had revenue of $128.64 million for the quarter, compared to analysts’ expectations of $60.85 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Research analysts predict that Ladder Capital Corp will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated a “market outperform” rating and issued a $13.50 price objective on shares of Ladder Capital in a report on Friday, August 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.33.

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.