Ladder Capital price target lowered to $12 from $13 at JMP Securities

JMP Securities lowered the firm’s price target on Ladder Capital to $12 from $13 and keeps an Outperform rating on the shares ahead of the Q3 earnings report. Ladder Capital remains positioned to be opportunistically offensive, with nearly $800M of cash on its balance sheet as of June 30 and the company continues to reap a net benefit from higher interest rates, which are expected to remain elevated until at least mid-2024, the analyst tells investors in a research note.