B.Riley FBR analyst Timothy P. Hayes reiterated a Buy rating on Ladder Capital (LADR) today and set a price target of $19. The company’s shares closed yesterday at $17.36.
Hayes noted:
“We reiterate our Buy rating and $19 price target on shares of Ladder Capital (LADR) following 1Q19 results that were in line with our estimate and handily covered the dividend in the wake of the December/January volatility that negatively impacted CRE transaction activity and CMBS issuance. Management struck a cautious tone on its conference call and expects capital allocation to favor CMBS/conduit lending over bridge lending given heightened competition and loan compression. The company noted three investments in which it is actively managing and highlighted how its active-management approach has protected its basis. As we progress further into the credit cycle, we continue to favor companies with diversified investment strategies that can opportunistically allocate capital to support earnings power.”
According to TipRanks.com, Hayes is a 4-star analyst with an average return of 9.7% and a 83.8% success rate. Hayes covers the Financial sector, focusing on stocks such as Saratoga Investment Corp, Starwood Property Trust, and Cherry Hill Mortgage.
Currently, the analyst consensus on Ladder Capital is a Moderate Buy with an average price target of $19.50.
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Ladder Capital’s market cap is currently $1.8B and has a P/E ratio of 9.44. The company has a Price to Book ratio of 1.25.
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Ladder Capital Corp. is a holding company, which engages in the provision of commercial real estate finance services. It operates through the following segments: Loans, Securities and Real Estate. The Loans segment offers mortgage loan receivables held for investment and mortgage loan receivables held for sale.
