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Friday, September 17, 2021

Sitting on a Pile of Cash? This REIT has Recovered from its 25 March Bottom and Looking North


Ladder Capital Corp. (NYSE:LADR) was raised to Buy from Neutral and the price target was raised to 11.00 from 7.50 at B Riley FBR.

The stock closed at 7.64 Wednesday in NY. The Key support is at 3.50, and the Key resistance is a 7.87, a close and hold on volume over 7.87 augers for a return the February highs. Our Key indicators have turned from Neutral to Bullish with a Very Bullish bias. A nice play in here if you can manage the risk.

Its 52 wk trading range is 2.65 – 18.87, and the consensus price target is at 9.60, well of its 52 wk high marked on 5 February 2020, just ahead of the C-19 coronavirus chaos. The shares trade at a 9.7X multiple, EPS (TTM) 0.79, it has a forward dividend yield of 1.36 or 17.8%.

LADR operates as a REIT in the US. The company operates through 3 segments: Loans, Securities, and Real Estate.

The Loans segment originates conduit 1st mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet 1st mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning.

It also invests in note purchase financings, subordinated debt, mezzanine debt, and other structured finance products related to commercial real estate. The Securities segment invests in commercial mortgage-backed securities and the US Agency Securities, this segment also invests in corporate bonds and real estate related equity investments.

The Real Estate segment owns and invests in a portfolio of commercial and residential real estate properties, such as leased properties, student housing portfolio, industrial buildings, office buildings, shopping center, and condominium units.

The company qualifies as a REIT for federal income tax purposes.

REIT’s are not subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in Y 2008 and is HQ’d in NYC, New York.

Have a healthy day, Keep the Faith!

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