Trump announces trade deal with EU following months of negotiations
In a recent transaction, Robert Perelman, Head of Asset Management at Ladder Capital Corp (NYSE:LADR), sold 25,000 shares of the company's Class A Common Stock at a price of $12.15 per share, amounting to a total value of $303,750. This transaction took place on September 13, 2024, as indicated in the latest SEC filings.
The sale of shares by Perelman has adjusted his direct ownership in the company to a total of 351,453 shares following the transaction. It's worth noting that the price per share for this transaction was set at $12.15, reflecting the value of the stock at the time of the sale.
Investors often monitor the buying and selling activities of company executives as these transactions can provide insights into their perspective on the company's current valuation and future prospects. The sale of a significant amount of stock by a high-ranking executive like the Head of Asset Management may be of particular interest to current and potential shareholders.
Ladder Capital Corp, a real estate investment trust (REIT) incorporated in Delaware, is known for its involvement in the finance sector, specifically within the real estate and construction industry. The company's business address is located at 320 Park Avenue, 15th Floor, New York, NY.
The transaction has been officially signed off by Michelle Wallach, acting as Attorney-in-Fact for Robert Perelman, as per the SEC document dated the same day as the stock sale.
In other recent news, Ladder Capital Corp has been making significant strides in its financial performance. The company recently reported distributable earnings of $40.4 million, or $0.31 per share, for the second quarter of 2024. This robust return on equity of 10.2% reflects the company's strategic focus on principal preservation and modest leverage. Additionally, Ladder Capital's board of directors declared a third-quarter 2024 dividend of $0.23 per share, further demonstrating the company's financial health.
In the realm of strategic moves, Ladder Capital has successfully priced a $500 million unsecured corporate bond offering, leading to positive rating actions from all three rating agencies. This has positioned the company one notch away from an investment-grade rating. Furthermore, the company has expressed its intention to raise dividends as earnings and cash balances increase, an indication of its future financial plans.
However, it's important to note that these recent developments are subject to risks and uncertainties, and the actual results could differ materially from those anticipated. These projections are based on management's expectations, as detailed in the company's filings with the U.S. Securities and Exchange Commission.
InvestingPro Insights
Ladder Capital Corp's (NYSE:LADR) recent stock sale by a key executive may lead investors to examine the company's financial health and market performance more closely. With a current market capitalization of approximately $1.56 billion and a price-to-earnings (P/E) ratio of 15.3, the company presents itself as an established player in the real estate investment trust (REIT) sector. Notably, Ladder Capital Corp's stock has been trading near its 52-week high, with the price at the previous close standing at $12.05, which is 97.76% of the 52-week high.
One of the notable InvestingPro Tips for Ladder Capital Corp is its commitment to shareholder returns, as evidenced by maintaining dividend payments for 10 consecutive years. This is further reinforced by the company's dividend yield of 7.54% as of the last recorded date, which is appealing to income-focused investors. Additionally, the company's liquid assets surpass its short-term obligations, indicating a solid financial footing that could reassure investors of its ability to meet immediate financial responsibilities.
Investors interested in Ladder Capital Corp's future profitability will find it encouraging that analysts predict the company will be profitable this year, and it has indeed been profitable over the last twelve months. For those considering the stock's volatility, it's important to note that Ladder Capital Corp's price movements have been quite volatile, which may influence investment strategies depending on individual risk appetites.
For further insights, there are additional InvestingPro Tips available, providing a comprehensive analysis of Ladder Capital Corp's financial metrics and market performance. These tips can be accessed through the InvestingPro platform for those seeking to make informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.