UPDATE: Deutsche Bank Initiates Coverage on Ladder Capital on Positive Outlook
In a report published Monday, Deutsche Bank analyst Stephen Laws initiated coverage on Ladder Capital Corp. (NYSE: LADR) with a Buy rating and $22.25 price target.
In the report, Deutsche Bank noted, “We expect LADR to generate attractive returns given the improved operating environment and the supply-demand imbalance for CRE debt. We believe LADR is well-positioned for a range of different market conditions given the three complementary business lines: 1) loan origination and securitization, 2) CMBS investments, and 3) net lease and other real estate assets. Our target of $22.25 per share is based on a 50% premium to our post-IPO adjusted BVPS estimate. Given our ROE estimates and the attractive valuation, we are initiating coverage with a Buy rating.”
Ladder Capital Corp. closed on Friday at $18.60.
Latest Ratings for LADR
|Mar 2015||Wells Fargo||Upgrades||Market Perform||Outperform|
|Nov 2014||Keefe Bruyette & Woods||Maintains||Outperform|
|Nov 2014||JMP Securities||Maintains||Market Outperform|
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