BlackRock Inc. decreased its position in shares of LTC Properties Inc (NYSE:LTC) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,049,454 shares of the real estate investment trust’s stock after selling 21,517 shares during the quarter. BlackRock Inc. owned 15.29% of LTC Properties worth $263,452,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in LTC Properties in the 3rd quarter valued at approximately $383,000. Ameriprise Financial Inc. lifted its stake in LTC Properties by 1.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 345,608 shares of the real estate investment trust’s stock valued at $16,237,000 after buying an additional 5,038 shares in the last quarter. First National Bank of Omaha lifted its stake in LTC Properties by 6.7% in the 4th quarter. First National Bank of Omaha now owns 66,624 shares of the real estate investment trust’s stock valued at $2,901,000 after buying an additional 4,200 shares in the last quarter. Janus Henderson Group PLC lifted its stake in LTC Properties by 19.5% in the 3rd quarter. Janus Henderson Group PLC now owns 208,565 shares of the real estate investment trust’s stock valued at $9,797,000 after buying an additional 33,964 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in LTC Properties by 7.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 396,873 shares of the real estate investment trust’s stock valued at $18,646,000 after buying an additional 27,398 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director James Pieczynski purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 17,974 shares in the company, valued at $783,666.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 2,720 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $43.35, for a total value of $117,912.00. Following the completion of the sale, the director now owns 34,656 shares of the company’s stock, valued at $1,502,337.60. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
A number of equities research analysts recently issued reports on LTC shares. Zacks Investment Research raised LTC Properties from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, January 11th. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. TheStreet lowered LTC Properties from a “b-” rating to a “c+” rating in a research note on Tuesday, February 27th. Cantor Fitzgerald reissued a “buy” rating and set a $52.00 price target on shares of LTC Properties in a research note on Thursday, March 1st. Finally, Stifel Nicolaus set a $40.00 price target on LTC Properties and gave the stock a “hold” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $46.88.
LTC Properties stock traded down $0.15 during mid-day trading on Monday, hitting $38.94. The stock had a trading volume of 36,869 shares, compared to its average volume of 280,830. The firm has a market cap of $1,549.09, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.17. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.88. LTC Properties Inc has a 1-year low of $36.90 and a 1-year high of $52.85.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.25). The firm had revenue of $41.73 million for the quarter, compared to analyst estimates of $33.28 million. LTC Properties had a return on equity of 11.52% and a net margin of 51.86%. equities analysts forecast that LTC Properties Inc will post 3.02 earnings per share for the current year.
The company also recently disclosed a monthly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, February 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.86%. LTC Properties’s payout ratio is 103.64%.
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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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