Allegis Investment Advisors LLC increased its stake in LTC Properties, Inc. (NYSE:LTC) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 39,475 shares of the real estate investment trust’s stock after buying an additional 1,681 shares during the period. Allegis Investment Advisors LLC’s holdings in LTC Properties were worth $2,029,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 256 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of LTC Properties during the first quarter worth approximately $156,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of LTC Properties during the second quarter worth approximately $203,000. Finally, Park Avenue Securities LLC acquired a new position in shares of LTC Properties during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 83.33% of the company’s stock.
LTC Properties, Inc. (LTC) opened at 47.765 on Wednesday. The stock’s 50 day moving average is $50.59 and its 200-day moving average is $48.52. The firm has a market capitalization of $1.89 billion, a PE ratio of 20.996 and a beta of 0.12. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $54.20.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. Equities research analysts forecast that LTC Properties, Inc. will post $2.20 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s dividend payout ratio (DPR) is 100.00%.
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A number of equities analysts have recently commented on LTC shares. Hilliard Lyons raised shares of LTC Properties from an “underperform” rating to a “neutral” rating in a report on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $58.00 target price on shares of LTC Properties in a report on Tuesday, May 9th. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 target price on shares of LTC Properties in a report on Tuesday, May 9th. Finally, BidaskClub cut shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $50.60.
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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