Tocqueville Asset Management L.P. lifted its holdings in LTC Properties, Inc. (NYSE:LTC) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,211 shares of the real estate investment trust’s stock after acquiring an additional 7,360 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.20% of LTC Properties worth $3,768,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in LTC. PNC Financial Services Group Inc. boosted its holdings in shares of LTC Properties by 12.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 231 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of LTC Properties by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,064 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 1,464 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of LTC Properties by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 200 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of LTC Properties by 9.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 300 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of LTC Properties in the 2nd quarter worth approximately $202,000. 79.23% of the stock is currently owned by institutional investors and hedge funds.
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Shares of LTC Properties, Inc. (NYSE:LTC) traded up $0.50 during mid-day trading on Tuesday, reaching $46.71. 414,026 shares of the company’s stock were exchanged, compared to its average volume of 210,502. The company has a market cap of $1,840.00, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.19. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.84. LTC Properties, Inc. has a twelve month low of $43.91 and a twelve month high of $52.85.
LTC Properties (NYSE:LTC) last posted its earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.26. The business had revenue of $41.25 million for the quarter, compared to analysts’ expectations of $32.91 million. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. During the same period in the prior year, the company posted $0.57 EPS. research analysts predict that LTC Properties, Inc. will post 3.08 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s dividend payout ratio is currently 102.70%.
A number of analysts recently commented on LTC shares. BidaskClub upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. KeyCorp restated a “hold” rating on shares of LTC Properties in a research report on Tuesday, October 17th. Zacks Investment Research downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Capital One Financial Corporation initiated coverage on shares of LTC Properties in a report on Monday, September 25th. They set an “overweight” rating and a $50.00 target price on the stock. Finally, BMO Capital Markets cut shares of LTC Properties from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $44.00 in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. LTC Properties has an average rating of “Hold” and a consensus price target of $50.17.
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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