Emerald Acquisition Ltd. purchased a new position in LTC Properties Inc. (NYSE:LTC) during the second quarter, Holdings Channel reports. The fund purchased 73,713 shares of the real estate investment trust’s stock, valued at approximately $3,805,000. Emerald Acquisition Ltd. owned 0.19% of LTC Properties as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTC. Societe Generale purchased a new position in LTC Properties during the second quarter worth approximately $131,000. Quantbot Technologies LP boosted its position in LTC Properties by 51.9% in the second quarter. Quantbot Technologies LP now owns 3,758 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 1,284 shares during the period. Squarepoint Ops LLC purchased a new position in LTC Properties during the first quarter worth approximately $255,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in LTC Properties by 8.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,252 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 501 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. boosted its position in LTC Properties by 4.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 7,333 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 332 shares during the period. Institutional investors own 82.89% of the company’s stock.
LTC Properties Inc. (NYSE:LTC) traded up 1.51% during trading on Wednesday, reaching $51.89. The company had a trading volume of 151,458 shares. The stock has a 50 day moving average price of $51.94 and a 200-day moving average price of $49.12. The company has a market capitalization of $2.04 billion, a PE ratio of 24.58 and a beta of 0.41. LTC Properties Inc. has a 52-week low of $40.02 and a 52-week high of $54.20.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $40 million for the quarter, compared to analyst estimates of $33.66 million. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. During the same quarter last year, the business earned $0.67 EPS. On average, equities research analysts anticipate that LTC Properties Inc. will post $3.06 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.16%. LTC Properties’s dividend payout ratio (DPR) is presently 102.37%.
A number of research firms have commented on LTC. Zacks Investment Research upgraded LTC Properties from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, August 3rd. Mizuho lowered LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price objective on the stock. in a research report on Monday, July 18th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of LTC Properties in a research report on Friday, September 9th. Royal Bank Of Canada lowered LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price objective on the stock. in a research report on Friday, June 17th. Finally, Canaccord Genuity upped their price objective on LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.00.
In other LTC Properties news, Director Timothy Triche sold 2,000 shares of LTC Properties stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total value of $104,260.00. Following the transaction, the director now owns 36,188 shares in the company, valued at approximately $1,886,480.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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