Teachers Advisors LLC raised its position in LTC Properties, Inc. (NYSE:LTC) by 2.5% during the first quarter, Holdings Channel reports. The fund owned 71,864 shares of the real estate investment trust’s stock after buying an additional 1,741 shares during the period. Teachers Advisors LLC’s holdings in LTC Properties were worth $3,442,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 256 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in LTC Properties during the first quarter worth approximately $156,000. Quadrature Capital Ltd acquired a new position in LTC Properties during the fourth quarter worth approximately $211,000. Finally, Dubuque Bank & Trust Co. acquired a new position in LTC Properties during the first quarter worth approximately $224,000. Institutional investors and hedge funds own 83.21% of the company’s stock.
Shares of LTC Properties, Inc. (NYSE:LTC) traded down 4.33% during midday trading on Friday, hitting $46.21. The stock had a trading volume of 143,769 shares. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 20.32 and a beta of 0.12. The stock’s 50-day moving average price is $50.92 and its 200 day moving average price is $48.50. LTC Properties, Inc. has a 52 week low of $43.17 and a 52 week high of $54.20.
LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 12.05%. The firm had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. On average, equities analysts forecast that LTC Properties, Inc. will post $2.20 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s dividend payout ratio is currently 100.00%.
A number of research firms recently commented on LTC. BMO Capital Markets cut LTC Properties from a “market perform” rating to an “underperform” rating in a report on Friday. BidaskClub cut LTC Properties from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Stifel Nicolaus reiterated a “hold” rating and set a $50.00 price target (down previously from $51.00) on shares of LTC Properties in a report on Tuesday, May 9th. Royal Bank Of Canada reiterated a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Tuesday, May 23rd. Finally, Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. LTC Properties currently has a consensus rating of “Hold” and a consensus price target of $52.60.
LTC Properties Company 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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