Resona Asset Management Co. Ltd. Makes New Investment in LTC Properties, Inc. (NYSE:LTC)

Resona Asset Management Co. Ltd. purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 17,944 shares of the real estate investment trust’s stock, valued at approximately $618,000.

A number of other large investors have also made changes to their positions in LTC. AlphaQuest LLC boosted its holdings in LTC Properties by 23,470.0% during the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 2,347 shares in the last quarter. GAMMA Investing LLC increased its holdings in LTC Properties by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 638 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of LTC Properties by 28.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 565 shares during the period. FMR LLC boosted its stake in shares of LTC Properties by 132.7% during the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Trading Down 0.5 %

Shares of LTC Properties stock opened at $33.68 on Friday. LTC Properties, Inc. has a 1 year low of $31.24 and a 1 year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The business has a 50 day moving average price of $34.82 and a 200 day moving average price of $35.76. The company has a market capitalization of $1.53 billion, a P/E ratio of 14.45 and a beta of 0.74.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to analysts’ expectations of $45.25 million. Sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.19 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a yield of 6.77%. LTC Properties’s dividend payout ratio (DPR) is 111.22%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LTC. Wells Fargo & Company reduced their price objective on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Tuesday, January 7th. Finally, Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.