Ladder Capital Form 144 Filing Signals Major Insider Stock Sale
0h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
ladder-capitalform-144
Fazen Markets Editorial Desk
Collective editorial team · methodology
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A Form 144 filing submitted to the U.S. Securities and Exchange Commission on 29 May 2026 disclosed a planned sale of Ladder Capital Corp LADR common stock by a corporate insider. The filing indicates an intent to dispose of a substantial number of shares, representing a notable event for the commercial real estate investment trust. This transaction is scheduled to be executed in accordance with Rule 144 regulations governing the public resale of restricted and control securities. The disclosed volume provides a critical data point for institutional investors monitoring insider behavior at the $1.4 billion market cap REIT.
The commercial real estate sector faces persistent headwinds from elevated interest rates and evolving office space demand. The Federal Reserve's current policy rate remains above 5.25%, increasing borrowing costs for property acquisitions and refinancing. Ladder Capital, with its focus on commercial real estate loans and investments, operates directly within this challenging interest rate environment. Insider selling activity often garners increased scrutiny during periods of macroeconomic uncertainty as investors search for signals about a company's internal prospects. A large sale can indicate a belief that current share prices fully reflect near-term value or a need for personal liquidity diversification.
The last significant Form 144 filing for Ladder Capital occurred on 15 November 2025, when a director filed to sell approximately 75,000 shares. The 29 May filing involves a materially larger volume, underscoring its importance. Executive dispositions must be analyzed alongside recent corporate performance, including Ladder's Q1 2026 earnings report which showed a net interest margin of 3.2%. The timing of this filing precedes the upcoming Federal Open Market Committee meeting on 17 June, where any signal on rate cuts could directly impact REIT valuations.
The Form 144 filing specifies an intent to sell a total of 150,000 shares of LADR common stock. At Ladder Capital's recent closing price of $11.25, the proposed sale has a monetary value of approximately $1.69 million. This volume represents a significant portion of the insider's directly held shares, estimated at roughly 15% of their total reported holdings. The stock has a 30-day average trading volume of 450,000 shares, meaning this sale equates to about 33% of a single day's average liquidity.
LADR's stock performance year-to-date shows a decline of 4.5%, underperforming the SPDR S&P 500 ETF Trust SPY, which has gained 10.2% over the same period. The iShares Mortgage Real Estate ETF REM, a key sector benchmark, is down 2.1% YTD. Ladder Capital's current dividend yield stands at 8.5%, which is 320 basis points above the REIT sector average of 5.3%. The company's price-to-book value ratio is 0.95, indicating the stock trades slightly below its stated net asset value.
| Metric | LADR | Sector Avg. REM ETF |
|---|---|---|
| YTD Performance | -4.5% | -2.1% |
| Dividend Yield | 8.5% | 5.3% |
| P/B Ratio | 0.95 | 1.10 |
The substantial size of this insider sale may exert downward pressure on LADR's share price in the near term, particularly if executed over a short window. Trading desks specializing in REITs will monitor the transaction's execution closely for signs of market impact. This activity could signal caution to other commercial real estate investors, potentially affecting peers like Starwood Property Trust STWD and Blackstone Mortgage Trust BXMT. These stocks are sensitive to shifts in sentiment regarding commercial real estate finance.
A key counter-argument is that insider sales are often pre-scheduled for portfolio diversification or tax planning and do not necessarily reflect a negative outlook on the company. The transaction could be part of a routine financial strategy unrelated to Ladder's operational performance. However, the filing's timing and magnitude warrant attention. Trading flow data indicates institutional investors have been net sellers of REITs for three consecutive weeks, with outflows totaling $850 million. This insider sale aligns with that broader cautious trend.
The execution date of the Form 144 sale is the primary immediate catalyst. Investors should monitor SEC Form 4 filings, which will report the actual transaction prices and dates, typically within two business days of the trade. The next major market event for Ladder Capital is its Q2 2026 earnings release, projected for the first week of August. Management's commentary on loan origination volume and credit quality will be critical for reassessing the stock's valuation.
Key technical levels for LADR include a support zone near $10.80, which has held twice in the past six months, and resistance around $11.70, the 50-day moving average. A break below the $10.80 support could trigger further selling toward the 52-week low of $10.25. The 10-year Treasury yield, currently at 4.35%, remains a crucial macro indicator; a sustained move above 4.50% would likely pressure the entire mortgage REIT sector. The Fazen Markets Real Estate Sentiment Index, updated weekly, provides a broader gauge of institutional flows.
A Form 144 is a mandatory notice filed with the SEC when a company insider, such as an officer, director, or major shareholder, plans to sell restricted or control securities. These are typically shares acquired through employee compensation plans or as part of a controlling stake. The filing does not mean the sale has occurred but declares an intent to sell in the future, provided all Rule 144 conditions are met, including a required holding period. The rule is designed to allow for the public resale of these securities while ensuring the market is adequately informed of potential supply increases.
The 150,000-share filing is larger than the average insider sale for Ladder Capital over the past 24 months, which typically ranged between 25,000 and 75,000 shares per filing. The last comparable sale occurred in May 2025, when a different executive filed to sell 140,000 shares. Following that filing, the stock traded sideways for six weeks before rallying 8% on a strong earnings report. This historical precedent suggests that while large sales can cause short-term uncertainty, the stock's ultimate direction is governed by fundamental performance and sector-wide trends in commercial real estate finance.
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