Clean Yield Group bought a new stake in LTC Properties Inc (NYSE:LTC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 35,072 shares of the real estate investment trust’s stock, valued at approximately $1,570,000. Clean Yield Group owned about 0.09% of LTC Properties at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Redpoint Investment Management Pty Ltd grew its position in shares of LTC Properties by 36.1% in the third quarter. Redpoint Investment Management Pty Ltd now owns 9,447 shares of the real estate investment trust’s stock valued at $484,000 after purchasing an additional 2,505 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of LTC Properties by 17.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,882 shares of the real estate investment trust’s stock valued at $2,811,000 after purchasing an additional 8,291 shares during the last quarter. State of Tennessee Treasury Department grew its position in shares of LTC Properties by 11.0% in the third quarter. State of Tennessee Treasury Department now owns 29,662 shares of the real estate investment trust’s stock valued at $1,519,000 after purchasing an additional 2,945 shares during the last quarter. Zebra Capital Management LLC grew its position in shares of LTC Properties by 8.5% in the third quarter. Zebra Capital Management LLC now owns 12,403 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 973 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of LTC Properties in the third quarter valued at approximately $70,000. 74.19% of the stock is currently owned by institutional investors.
Several research firms have recently commented on LTC. Zacks Investment Research downgraded LTC Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Co downgraded LTC Properties from a “market perform” rating to an “underperform” rating and set a $43.00 target price on the stock. in a research report on Tuesday, December 10th. Capital One Financial downgraded LTC Properties from an “overweight” rating to an “equal weight” rating and set a $51.00 target price on the stock. in a research report on Friday, October 25th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $42.00 target price on shares of LTC Properties in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. LTC Properties currently has a consensus rating of “Hold” and an average target price of $42.83.
Shares of NYSE:LTC opened at $46.72 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.81 and a beta of 0.29. LTC Properties Inc has a 1 year low of $42.31 and a 1 year high of $53.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.06 and a quick ratio of 10.06. The business’s 50 day simple moving average is $45.25 and its 200 day simple moving average is $47.83.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.09). The company had revenue of $38.67 million for the quarter, compared to analyst estimates of $38.94 million. LTC Properties had a return on equity of 12.33% and a net margin of 57.14%. On average, sell-side analysts anticipate that LTC Properties Inc will post 2.98 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Friday, March 20th. LTC Properties’s dividend payout ratio is currently 74.51%.
LTC Properties Profile
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.
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