Ladder Capital Corp (NYSE:LADR) Declares Dividend Increase – $0.22 Per Share
Scale Capital Corp (NYSE: LADR- Get a rating) announced a quarterly dividend on Thursday, June 16, the wall street journal reports. Shareholders of record on Thursday, June 30 will receive a dividend of 0.22 per share from the REIT on Friday, July 15. This represents a dividend of $0.88 on an annualized basis and a yield of 9.20%. The ex-date of this dividend is Wednesday, June 29. This is an increase from Ladder Capital’s previous quarterly dividend of $0.20.
Ladder Capital has reduced its dividend by an average of 19.5% per year over the past three years. Ladder Capital has a dividend payout ratio of 69.0%, which means its dividend is sufficiently covered by earnings. Stock analysts expect Ladder Capital to earn $1.03 per share next year, meaning the company should continue to be able to cover its $0.80 annual dividend with a payout ratio. expected future of 77.7%.
LADR shares were down $0.29 during Thursday trading hours, hitting $9.57. The stock had a trading volume of 1,134,370 shares, against an average volume of 653,054. Ladder Capital has a 12-month low of $9.43 and a 12-month high of $12.69. The stock has a fifty-day moving average price of $11.48 and a 200-day moving average price of $11.68. The company has a debt ratio of 2.88, a current ratio of 104.42 and a quick ratio of 104.42. The company has a market capitalization of $1.23 billion, a PE ratio of 15.97 and a beta of 1.96.
Ladder Capital (NYSE: LADR- Get a rating) last announced its results on Thursday, April 28. The real estate investment trust reported earnings per share (EPS) of $0.25 for the quarter, beating the consensus estimate of $0.19 by $0.06. Ladder Capital had a net margin of 18.52% and a return on equity of 4.08%. As a group, analysts expect Ladder Capital to post EPS of 0.66 for the current fiscal year.
In other Ladder Capital CEO news Brian Harris sold 30,000 shares of the company in a transaction that took place on Thursday, April 14. The stock was sold at an average price of $12.54, for a total transaction of $376,200.00. Following completion of the transaction, the CEO now owns 1,058,482 shares of the company, valued at $13,273,364.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, the president Pamela McCormack sold 40,000 shares of Ladder Capital in a trade on Thursday, April 14. The stock was sold at an average price of $12.42, for a total value of $496,800.00. Following the sale, the president now owns 713,209 shares of the company, valued at $8,858,055.78. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 113,139 shares of the company worth $1,377,805. Company insiders own 11.10% of the company’s shares.
Several hedge funds have recently changed their holdings in the company. Norges Bank purchased a new equity stake in Ladder Capital in the fourth quarter, valued at approximately $13,386,000. Royal Bank of Canada increased its holdings of Ladder Capital shares by 1,329.3% in Q1. Royal Bank of Canada now owns 1,062,319 shares of the real estate investment trust valued at $12,610,000 after buying an additional 987,995 shares last quarter. Goldman Sachs Group Inc. raised its position in Ladder Capital shares by 19.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,503,638 shares of the real estate investment trust worth $42,008,000 after purchasing an additional 577,973 shares during the period. Vanguard Group Inc. increased its stake in shares of Ladder Capital by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,681,700 shares of the real estate investment trust worth $126,791,000 after purchasing an additional 321,502 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Ladder Capital during the fourth quarter valued at approximately $3,275,000. Institutional investors and hedge funds hold 58.27% of the company’s shares.
A number of research firms have commented on the LADR. TheStreet upgraded Ladder Capital shares from a “b-” rating to a “c+” rating in a Friday, April 29 research note. StockNews.com began covering Ladder Capital in a research note on Thursday, March 31. They issued a “buy” rating for the company.
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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