Ladder Capital Corp (NYSE:LADR) sees sharp drop in short-term interest

Ladder Capital Corp (NYSE: LADR – Get a rating) was the target of a sharp drop in short interest during the month of August. As of August 31, there was short interest totaling 1,660,000 shares, down 14.4% from the total of 1,940,000 shares as of August 15. Based on an average daily volume of 549,400 shares, the short-term interest rate ratio is currently 3.0 days. Currently, 1.5% of the stock’s shares are sold short.

Capital scale up 1.1%

Shares of LADR were up $0.12 during Friday trading hours, hitting $11.09. 1,317,935 shares of the company were traded, compared to its average volume of 366,553. The stock’s 50-day simple moving average is $11.23 and its 200-day simple moving average is $11.35 . The stock has a market capitalization of $1.41 billion, a PE ratio of 13.86 and a beta of 1.88. Ladder Capital has a 12-month low of $9.43 and a 12-month high of $12.69. The company has a quick ratio of 89.45, a current ratio of 89.45 and a leverage ratio of 2.79.

Laddered capital increases the dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 17. Shareholders of record on Friday, September 30 will receive a dividend of $0.23 per share. The ex-date of this dividend is Thursday, September 29. This represents an annualized dividend of $0.92 and a dividend yield of 8.30%. This is an increase from Ladder Capital’s previous quarterly dividend of $0.22. Ladder Capital’s dividend payout ratio (DPR) is currently 110.00%.

Hedge Funds Weigh Scale Capital

Major investors have recently changed their stake in the company. Envestnet Asset Management Inc. increased its position in Ladder Capital shares by 30.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 33,242 shares of the real estate investment trust worth $399,000 after purchasing an additional 7,715 shares during the period. Bank of America Corp DE increased its position in Ladder Capital shares by 26.2% during the fourth quarter. Bank of America Corp DE now owns 170,782 shares of the real estate investment trust worth $2,047,000 after purchasing an additional 35,491 shares during the period. BNP Paribas Arbitrage SA increased its position in Ladder Capital shares by 24.9% during the fourth quarter. BNP Paribas Arbitrage SA now owns 54,403 shares of the real estate investment trust worth $652,000 after purchasing an additional 10,846 shares during the period. Teacher Retirement System of Texas increased its position in Ladder Capital stocks by 25.2% during the fourth quarter. Teacher Retirement System of Texas now owns 21,837 shares of the real estate investment trust worth $262,000 after purchasing an additional 4,400 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Ladder Capital by 11.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,961,132 shares of the real estate investment trust worth $23,514,000 after purchasing an additional 204,436 shares during the period. Institutional investors hold 60.20% of the company’s shares.

Analysts set new price targets

Several brokerages have recently commented on LADR. TheStreet downgraded Ladder Capital shares from a “c” rating to a “b-” rating in a Friday, August 19 research note. JMP Securities reissued a “buy” rating and posted a $13.50 price target on Ladder Capital shares in a research note on Friday, June 24.

About Ladder Capital

(Get a rating)

The Lending segment issues first mortgage loans that are secured by cash flow commercial real estate; and originates and invests in on-balance sheet first mortgages secured by commercial real estate in transition, including rental, sale and renovation or repositioning.

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