Swiss National Bank grew its holdings in LTC Properties Inc (NYSE:LTC) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 68,662 shares of the real estate investment trust’s stock after buying an additional 2,700 shares during the period. Swiss National Bank owned 0.17% of LTC Properties worth $2,990,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of LTC. The Manufacturers Life Insurance Company grew its position in shares of LTC Properties by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 31,130 shares of the real estate investment trust’s stock valued at $1,600,000 after purchasing an additional 863 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of LTC Properties by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 126,077 shares of the real estate investment trust’s stock valued at $5,910,000 after buying an additional 1,289 shares during the period. New York State Common Retirement Fund raised its stake in LTC Properties by 3.1% during the third quarter. New York State Common Retirement Fund now owns 43,400 shares of the real estate investment trust’s stock worth $2,039,000 after purchasing an additional 1,300 shares during the period. American International Group Inc. raised its stake in LTC Properties by 5.7% during the third quarter. American International Group Inc. now owns 31,197 shares of the real estate investment trust’s stock worth $1,466,000 after purchasing an additional 1,692 shares during the period. Finally, Strs Ohio raised its stake in LTC Properties by 2.8% during the fourth quarter. Strs Ohio now owns 62,436 shares of the real estate investment trust’s stock worth $2,719,000 after purchasing an additional 1,698 shares during the period. Institutional investors and hedge funds own 80.18% of the company’s stock.
In other LTC Properties news, Director Boyd W. Hendrickson sold 2,787 shares of LTC Properties stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $46.66, for a total value of $130,041.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy Triche sold 2,720 shares of LTC Properties stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $43.35, for a total transaction of $117,912.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,727 shares of company stock valued at $436,470. 1.50% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada set a $43.00 price objective on shares of LTC Properties and gave the stock a “hold” rating in a research report on Tuesday, March 6th. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. Mizuho lowered their price target on shares of LTC Properties from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, March 5th. Stifel Nicolaus set a $40.00 price objective on shares of LTC Properties and gave the stock a “hold” rating in a report on Thursday, March 1st. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $52.00 price objective on shares of LTC Properties in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.88.
Shares of LTC Properties Inc (LTC) traded up $0.09 on Wednesday, hitting $39.13. 254,335 shares of the stock traded hands, compared to its average volume of 284,479. The firm has a market cap of $1,577.23, a PE ratio of 17.80, a P/E/G ratio of 3.27 and a beta of 0.17. The company has a debt-to-equity ratio of 0.88, a current ratio of 8.25 and a quick ratio of 8.25. LTC Properties Inc has a 12 month low of $36.90 and a 12 month high of $52.85.
LTC Properties (NYSE:LTC) last released its earnings results on Thursday, March 1st. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.25). The firm had revenue of $41.73 million during the quarter, compared to analysts’ expectations of $33.28 million. LTC Properties had a return on equity of 11.52% and a net margin of 51.86%. equities research analysts forecast that LTC Properties Inc will post 3.04 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Friday, February 16th. LTC Properties’s dividend payout ratio is currently 103.64%.
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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