FDx Advisors Inc. acquired a new position in shares of LTC Properties Inc (NYSE:LTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,381 shares of the real estate investment trust’s stock, valued at approximately $1,933,000. FDx Advisors Inc. owned approximately 0.12% of LTC Properties as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors Inc. lifted its stake in shares of LTC Properties by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,431 shares of the real estate investment trust’s stock worth $393,000 after buying an additional 306 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of LTC Properties during the 4th quarter worth about $629,000. Macroview Investment Management LLC acquired a new stake in shares of LTC Properties during the 4th quarter worth about $33,000. Jennison Associates LLC acquired a new stake in shares of LTC Properties during the 4th quarter worth about $793,000. Finally, Comerica Bank lifted its stake in shares of LTC Properties by 0.9% during the 4th quarter. Comerica Bank now owns 41,588 shares of the real estate investment trust’s stock worth $1,909,000 after buying an additional 357 shares during the last quarter. 74.54% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on LTC. BMO Capital Markets restated a “sell” rating and set a $40.00 target price on shares of LTC Properties in a research note on Thursday, December 6th. Zacks Investment Research cut shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada restated a “sell” rating and set a $40.00 target price on shares of LTC Properties in a research note on Tuesday, November 20th. Finally, ValuEngine upgraded shares of LTC Properties from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.83.
NYSE:LTC opened at $45.98 on Friday. LTC Properties Inc has a 52 week low of $34.46 and a 52 week high of $48.13. The stock has a market cap of $1.82 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 3.73 and a beta of 0.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 8.91 and a current ratio of 8.91.
The firm also recently declared a monthly dividend, which will be paid on Thursday, February 28th. Investors of record on Wednesday, February 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Tuesday, February 19th. LTC Properties’s dividend payout ratio is 73.55%.
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LTC Properties Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At September 30, 2018, LTC had 199 investments located in 28 states, comprising 103 assisted living communities, 95 skilled nursing centers and 1 behavioral health care hospital.
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