Prudential Financial Inc. boosted its position in shares of LTC Properties Inc. (NYSE:LTC) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,383 shares of the real estate investment trust’s stock after buying an additional 2,120 shares during the period. Prudential Financial Inc. owned 0.24% of LTC Properties worth $4,779,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC raised its stake in LTC Properties by 109.4% in the first quarter. Nuveen Asset Management LLC now owns 675,826 shares of the real estate investment trust’s stock worth $30,574,000 after buying an additional 353,126 shares in the last quarter. Shinko Asset Management Co. Ltd. raised its stake in LTC Properties by 26.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 890,743 shares of the real estate investment trust’s stock worth $46,078,000 after buying an additional 185,425 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in LTC Properties by 123.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,036 shares of the real estate investment trust’s stock worth $623,000 after buying an additional 6,638 shares in the last quarter. LPL Financial LLC raised its stake in LTC Properties by 4.1% in the first quarter. LPL Financial LLC now owns 28,085 shares of the real estate investment trust’s stock worth $1,285,000 after buying an additional 1,102 shares in the last quarter. Finally, Aperio Group LLC raised 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 in the last quarter. Institutional investors and hedge funds own 82.90% of the company’s stock.
LTC Properties Inc. (NYSE:LTC) opened at 50.05 on Friday. The company has a 50 day moving average of $51.32 and a 200-day moving average of $49.83. LTC Properties Inc. has a 12-month low of $40.02 and a 12-month high of $54.20. The stock has a market cap of $1.96 billion, a P/E ratio of 23.71 and a beta of 0.36.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. The company earned $40 million during the quarter, compared to analyst estimates of $33.66 million. During the same period in the prior year, the firm earned $0.67 earnings per share. Equities analysts forecast that LTC Properties Inc. will post $3.06 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 22nd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Friday, November 18th. LTC Properties’s dividend payout ratio (DPR) is presently 102.37%.
A number of analysts have weighed in on LTC shares. Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, October 5th. Cantor Fitzgerald restated a “buy” rating on shares of LTC Properties in a research note on Friday, September 9th. Royal Bank Of Canada lowered shares of LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price objective for the company. in a research note on Friday, June 17th. Mizuho lowered shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research note on Monday, July 18th. Finally, Hilliard Lyons downgraded shares of LTC Properties from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.00.
In related 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 completion of the sale, the director now directly owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.
About LTC Properties
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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