Ladder Capital Corp (NYSE:LADR) declared 3Q20 dividend of $ 0.20 per share, or $ 0.80 annualized.
The dividend will be payable on October 1, 2020, to stockholders of record on September 10, 2020, with an ex-dividend date of September 9, 2020.
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Ladder Capital Corp recently reported second quarter financial results on July 30, 2020, after market close, the New York based company announced income for the second quarter of $ 0.12 per share, from the revenue of $ 24.58 million. The quarterly earnings down 72.09 percent while revenues lowered 71.19 percent compared with the same quarter last year.
According to street consensus, LADR was expected to report 2Q20 income of $ 0.03 per share from revenue of $ 70.47 million. The bottom line results beat street analysts by $ 0.09 or 300.00 percent, at the same time, top line results fell short of analysts by $ 45.89 million or 65.12 percent.
Shares of Ladder Capital Corp traded low $ -0.32 or -4.12 percent on Monday, reaching $ 7.45 with volume of 1.50 million shares. Ladder Capital Corp has traded high as $ 7.68 and has cracked $ 7.38 on the downward trend
The closing price of $ 7.45, representing a 193.21 % increase from the 52 week low of $ 2.65 and a 59.04 % decrease over the 52 week high of $ 18.97.
The company has a market capital of $ 896.94 million and is part of the Real Estate sector and REIT – Diversified industry.
Ladder Capital Corp operates as a real estate investment trust in the United States. The company operates through three segments: Loans, Securities, and Real Estate. The Loans segment originates conduit first mortgage loans that are secured by cash-flowing commercial real estate; and originates and invests in balance sheet first mortgage loans secured by commercial real estate properties that are undergoing transition, including lease-up, sell-out, and renovation or repositioning.