Legato Capital Management LLC raised its position in shares of LTC Properties, Inc. (NYSE:LTC) by 887.9% during the second quarter, Holdings Channel reports. The fund owned 8,328 shares of the real estate investment trust’s stock after buying an additional 7,485 shares during the period. Legato Capital Management LLC’s holdings in LTC Properties were worth $428,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in LTC Properties by 10,627.1% in the first quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock worth $291,489,000 after buying an additional 6,028,663 shares during the last quarter. Norges Bank acquired a new position in LTC Properties during the fourth quarter worth approximately $18,524,000. Victory Capital Management Inc. raised its position in LTC Properties by 31.9% in the first quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock worth $47,367,000 after buying an additional 239,198 shares during the last quarter. Vanguard Group Inc. raised its position in LTC Properties by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,409,468 shares of the real estate investment trust’s stock worth $307,014,000 after buying an additional 158,054 shares during the last quarter. Finally, Dean Investment Associates LLC acquired a new position in LTC Properties during the first quarter worth approximately $6,539,000. 82.92% of the stock is owned by institutional investors and hedge funds.
Shares of LTC Properties, Inc. (NYSE LTC) traded up 0.27% on Friday, hitting $51.22. The stock had a trading volume of 176,071 shares. LTC Properties, Inc. has a 52-week low of $43.17 and a 52-week high of $54.20. The company has a 50-day moving average of $50.32 and a 200-day moving average of $48.12. The company has a market cap of $2.03 billion, a P/E ratio of 23.10 and a beta of 0.12.
LTC Properties (NYSE:LTC) last announced its earnings results on Monday, May 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.24. LTC Properties had a net margin of 52.17% and a return on equity of 11.66%. The business had revenue of $42.62 million for the quarter, compared to analysts’ expectations of $34.82 million. On average, equities analysts anticipate that LTC Properties, Inc. will post $2.21 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.45%. LTC Properties’s payout ratio is 102.70%.
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A number of research analysts have commented on LTC shares. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research report on Thursday, April 6th. Hilliard Lyons raised LTC Properties from an “underperform” rating to a “neutral” rating in a research report on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $58.00 price target on shares of LTC Properties in a research report on Tuesday, May 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $50.00 price target on shares of LTC Properties in a research report on Tuesday, May 9th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $50.00 price target on shares of LTC Properties in a research report on Tuesday, May 23rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. LTC Properties currently has an average rating of “Hold” and a consensus price target of $53.50.
LTC Properties Company 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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