Principal Financial Group Inc. Buys 96,573 Shares of Ladder Capital Corp (NYSE:LADR)

Principal Financial Group Inc. raised its stake in shares of Ladder Capital Corp (NYSE:LADR) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,020,143 shares of the real estate investment trust’s stock after buying an additional 96,573 shares during the period. Principal Financial Group Inc.’s holdings in Ladder Capital were worth $23,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jane Street Group LLC boosted its holdings 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 buying an additional 1,400,238 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Ladder Capital during the 3rd quarter valued at $6,907,000. Millennium Management LLC increased its stake in shares of 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 purchasing an additional 353,530 shares in the last quarter. Van ECK Associates Corp raised its holdings in Ladder Capital by 32.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,091,288 shares of the real estate investment trust’s stock worth $12,321,000 after purchasing an additional 266,693 shares during the period. Finally, Stifel Financial Corp lifted its position in Ladder Capital by 196.3% during the third quarter. Stifel Financial Corp now owns 165,768 shares of the real estate investment trust’s stock valued at $1,923,000 after purchasing an additional 109,816 shares in the last quarter. 62.25% of the stock is currently owned by hedge funds and other institutional investors.

Ladder Capital Trading Up 1.4 %

Shares of LADR stock opened at $11.45 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 54.44 and a current ratio of 54.44. The stock has a fifty day simple moving average of $11.58 and a two-hundred day simple moving average of $11.63. The firm has a market capitalization of $1.46 billion, a PE ratio of 15.07 and a beta of 1.93. Ladder Capital Corp has a 52-week low of $10.10 and a 52-week high of $12.48.

Ladder Capital (NYSE:LADR) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $128.64 million during the quarter, compared to analyst estimates of $60.85 million. Ladder Capital had a return on equity of 9.14% and a net margin of 18.90%. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, analysts predict that Ladder Capital Corp will post 1.06 EPS for the current fiscal year.

Ladder Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date is Tuesday, December 31st. Ladder Capital’s dividend payout ratio (DPR) is currently 121.05%.

Wall Street Analysts Forecast Growth

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

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.