Nationwide Fund Advisors increased its position in LTC Properties Inc. (NYSE:LTC) by 53.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,810 shares of the real estate investment trust’s stock after buying an additional 20,501 shares during the period. Nationwide Fund Advisors owned about 0.15% of LTC Properties worth $3,042,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in LTC. Texas Permanent School Fund increased its stake in LTC Properties by 1.7% in the first quarter. Texas Permanent School Fund now owns 29,999 shares of the real estate investment trust’s stock worth $1,357,000 after buying an additional 501 shares during the period. Aperio Group LLC increased its stake in LTC Properties by 29.8% in the first quarter. Aperio Group LLC now owns 9,837 shares of the real estate investment trust’s stock worth $445,000 after buying an additional 2,261 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in LTC Properties by 2.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 87,180 shares of the real estate investment trust’s stock worth $3,944,000 after buying an additional 1,935 shares during the period. TIAA CREF Investment Management LLC increased its stake in LTC Properties by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 135,853 shares of the real estate investment trust’s stock worth $6,146,000 after buying an additional 495 shares during the period. Finally, Teachers Advisors Inc. increased its stake in LTC Properties by 6.2% in the first quarter. Teachers Advisors Inc. now owns 68,167 shares of the real estate investment trust’s stock worth $3,084,000 after buying an additional 3,963 shares during the period. Institutional investors own 82.89% of the company’s stock.
LTC Properties Inc. (NYSE:LTC) traded down 0.24% during midday trading on Friday, hitting $48.92. 182,521 shares of the stock were exchanged. The company has a 50 day moving average price of $51.68 and a 200 day moving average price of $49.68. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 23.17 and a beta of 0.36. LTC Properties Inc. has a one year low of $40.02 and a one year high of $54.20.
LTC Properties (NYSE:LTC) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. The business had revenue of $40 million for the quarter, compared to analyst estimates of $33.66 million. During the same quarter in the prior year, the firm earned $0.67 EPS. Equities analysts anticipate that LTC Properties Inc. will post $3.06 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 22nd will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, November 18th. LTC Properties’s payout ratio is 102.37%.
A number of analysts have commented on LTC shares. Royal Bank Of Canada downgraded shares of LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price target on the stock. in a research report on Friday, June 17th. Cantor Fitzgerald assumed coverage on shares of LTC Properties in a report on Thursday, June 23rd. They issued a “buy” rating on the stock. Hilliard Lyons downgraded shares of LTC Properties from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of LTC Properties from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Tuesday, July 5th. Finally, Mizuho downgraded shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. LTC Properties has an average rating of “Hold” and a consensus price target of $53.00.
In other news, Director Timothy Triche sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total value of $104,260.00. Following the sale, the director now owns 36,188 shares of the company’s stock, valued at approximately $1,886,480.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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