Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 16.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,530 shares of the real estate investment trust’s stock after selling 16,880 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.22% of LTC Properties worth $4,395,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in LTC. BlackRock Inc. increased its holdings in LTC Properties by 10,627.1% during the 1st quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after purchasing an additional 6,028,663 shares in the last quarter. Victory Capital Management Inc. increased its holdings in LTC Properties by 31.9% during the 1st quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock valued at $47,367,000 after purchasing an additional 239,198 shares in the last quarter. Vanguard Group Inc. increased its holdings in LTC Properties by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 6,409,468 shares of the real estate investment trust’s stock valued at $307,014,000 after purchasing an additional 158,054 shares in the last quarter. Dean Investment Associates LLC acquired a new stake in LTC Properties during the 1st quarter valued at $6,539,000. Finally, State Street Corp increased its holdings in LTC Properties by 5.8% during the 1st quarter. State Street Corp now owns 1,480,277 shares of the real estate investment trust’s stock valued at $70,905,000 after purchasing an additional 80,638 shares in the last quarter. 81.37% of the stock is owned by hedge funds and other institutional investors.
Shares of LTC Properties, Inc. (NYSE:LTC) opened at 48.69 on Wednesday. The stock has a 50 day moving average price of $49.21 and a 200 day moving average price of $48.76. The firm has a market capitalization of $1.93 billion, a PE ratio of 21.40 and a beta of 0.15. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $53.08.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Equities research analysts anticipate that LTC Properties, Inc. will post $2.18 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 21st. This represents a $2.28 annualized dividend and a dividend yield of 4.68%. LTC Properties’s dividend payout ratio (DPR) is presently 100.00%.
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A number of equities research analysts recently weighed in on LTC shares. Mizuho reaffirmed a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Tuesday, June 27th. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Friday, July 28th. Finally, BidaskClub raised LTC Properties from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. LTC Properties presently has an average rating of “Hold” and an average target price of $50.60.
LTC Properties Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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