Ladder Capital Corp (NYSE: LADR) will issue a quarterly dividend of $0.23
Scale Capital Corp (NYSE: LADR- Get a rating) declared a quarterly dividend on Thursday, September 15, Zacks reports. Investors of record on Friday, September 30 will receive a dividend of 0.23 per share from the real estate investment trust on Monday, October 17. This represents an annualized dividend of $0.92 and a yield of 8.39%. The ex-dividend date is Thursday, September 29. This is an increase from Ladder Capital‘s previous quarterly dividend of $0.22.
Ladder Capital has decreased its dividend payout by an average of 19.5% per year over the past three years and has increased its dividend each year for the past 1 consecutive years. Ladder Capital has a payout ratio of 76.5%, indicating that its dividend is currently being covered by earnings, but may not be in the future if the company‘s earnings fall. Stock analysts expect Ladder Capital to earn $0.90 per share next year, meaning the company should continue to be able to cover its $0.88 annual dividend with a payout ratio. expected future of 97.8%.
Laddered share capital performance
LADR stock opened at $10.97 on Friday. The company has a debt ratio of 2.79, a current ratio of 89.45 and a quick ratio of 89.45. The company has a 50-day moving average price of $11.22 and a 200-day moving average price of $11.35. Ladder Capital has a fifty-two week low of $9.43 and a fifty-two week high of $12.69. The stock has a market capitalization of $1.39 billion, a PE ratio of 13.71 and a beta of 1.88.
Hedge Funds Weigh Scale Capital
Several institutional investors and hedge funds have recently changed their positions in the company. Vanguard Group Inc. increased its holdings of Ladder Capital shares by 3.1% in Q1. 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 during the period. State Street Corp increased its holdings of Ladder Capital shares by 13.3% in Q2. State Street Corp now owns 2,607,378 shares of the real estate investment trust valued at $28,039,000 after purchasing an additional 305,799 shares during the period. Millennium Management LLC increased its holdings of Ladder Capital shares by 233.4% in Q2. Millennium Management LLC now owns 1,498,869 shares of the real estate investment trust valued at $15,798,000 after purchasing an additional 1,049,301 shares during the period. Charles Schwab Investment Management Inc. increased its holdings of Ladder Capital shares by 3.0% in Q1. Charles Schwab Investment Management Inc. now owns 1,377,162 shares of the real estate investment trust worth $16,347,000 after purchasing an additional 40,643 shares during the period. Finally, 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 purchasing an additional 987,995 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s shares.
Analysts set new price targets
LADR has been the subject of several recent research reports. TheStreet upgraded shares of Ladder Capital from a “c” rating to a “b-” rating in a Friday, August 19 research report. JMP Securities reiterated a “buy” rating and set a price target of $13.50 on Ladder Capital shares in a Friday, June 24 research report.
About Ladder Capital
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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