Meitav Dash Investments Ltd. increased its stake in shares of LTC Properties Inc (NYSE:LTC) by 1.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,106 shares of the real estate investment trust’s stock after buying an additional 419 shares during the period. Meitav Dash Investments Ltd.’s holdings in LTC Properties were worth $1,059,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LTC. Ameritas Investment Company LLC purchased a new stake in LTC Properties during the first quarter worth about $25,000. HHM Wealth Advisors LLC purchased a new stake in LTC Properties during the first quarter worth about $39,000. Mutual of America Capital Management LLC increased its holdings in LTC Properties by 12.5% during the first quarter. Mutual of America Capital Management LLC now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 315 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in LTC Properties during the first quarter worth about $136,000. Finally, Tudor Investment Corp Et Al purchased a new stake in LTC Properties during the first quarter worth about $201,000. Institutional investors and hedge funds own 75.53% of the company’s stock.
LTC has been the subject of several recent research reports. Capital One Financial upgraded shares of LTC Properties from an “equal weight” rating to an “overweight” rating and set a $39.00 target price for the company in a research note on Tuesday, May 5th. Zacks Investment Research downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 11th. BMO Capital Markets reiterated a “sell” rating and issued a $37.00 target price on shares of LTC Properties in a research note on Monday, May 4th. Wells Fargo & Co lifted their target price on shares of LTC Properties from $33.00 to $35.00 and gave the stock an “underweight” rating in a research note on Friday, June 19th. Finally, Royal Bank of Canada reiterated a “sell” rating and issued a $32.00 target price on shares of LTC Properties in a research note on Sunday, May 17th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.43.
NYSE:LTC traded up $0.48 during mid-day trading on Thursday, hitting $36.34. 8,175 shares of the stock traded hands, compared to its average volume of 282,254. The business’s 50-day moving average price is $37.67 and its 200 day moving average price is $37.99. The company has a market cap of $1.44 billion, a PE ratio of 11.90 and a beta of 0.82. LTC Properties Inc has a 12-month low of $24.49 and a 12-month high of $53.04. The company has a quick ratio of 11.43, a current ratio of 11.43 and a debt-to-equity ratio of 0.88.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.66). The firm had revenue of $38.02 million for the quarter, compared to analysts’ expectations of $38.04 million. LTC Properties had a net margin of 62.35% and a return on equity of 13.24%. Analysts anticipate that LTC Properties Inc will post 2.92 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.28 annualized dividend and a yield of 6.27%. LTC Properties’s payout ratio is presently 74.03%.
LTC Properties Company 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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