BlackRock Advisors LLC reduced its position in LTC Properties Inc. (NYSE:LTC) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,063 shares of the real estate investment trust’s stock after selling 45,870 shares during the period. BlackRock Advisors LLC owned 1.10% of LTC Properties worth $22,402,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in LTC Properties by 1,009.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,773 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 2,523 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in LTC Properties during the second quarter valued at approximately $5,416,000. PineBridge Investments L.P. boosted its stake in LTC Properties by 4.9% in the second quarter. PineBridge Investments L.P. now owns 4,808 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 224 shares in the last quarter. Vanguard Group Inc. boosted its stake in LTC Properties by 6.6% in the second quarter. Vanguard Group Inc. now owns 5,903,710 shares of the real estate investment trust’s stock valued at $305,398,000 after buying an additional 363,196 shares in the last quarter. Finally, National Planning Corp boosted its stake in LTC Properties by 4.7% in the second quarter. National Planning Corp now owns 18,813 shares of the real estate investment trust’s stock valued at $995,000 after buying an additional 840 shares in the last quarter. 82.89% of the stock is owned by hedge funds and other institutional investors.
LTC Properties Inc. (NYSE:LTC) opened at 52.88 on Monday. LTC Properties Inc. has a one year low of $40.02 and a one year high of $54.20. The firm has a 50-day moving average of $51.98 and a 200 day moving average of $49.22. The stock has a market capitalization of $2.07 billion, a PE ratio of 25.05 and a beta of 0.41.
LTC Properties (NYSE:LTC) last posted its quarterly earnings data 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. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. The business had revenue of $40 million for the quarter, compared to analysts’ expectations of $33.66 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, equities research analysts anticipate that LTC Properties Inc. will post $3.06 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.18 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Friday, August 19th. LTC Properties’s dividend payout ratio (DPR) is 102.37%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, July 5th. Cantor Fitzgerald assumed coverage on shares of LTC Properties in a research report on Thursday, June 23rd. They issued a “buy” rating for the company. Hilliard Lyons cut shares of LTC Properties from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 29th. Canaccord Genuity raised their target price on shares of LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Finally, Mizuho cut shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the 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 the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total transaction of $104,260.00. Following the transaction, the director now owns 36,188 shares in the company, valued at $1,886,480.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.
About LTC Properties
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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