Deutsche Bank AG grew its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,183 shares of the real estate investment trust's stock after acquiring an additional 14,376 shares during the period. Deutsche Bank AG owned 0.29% of LTC Properties worth $4,567,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Mutual of America Capital Management LLC grew its stake in LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after acquiring an additional 314 shares in the last quarter. Amalgamated Bank grew its stake in LTC Properties by 2.5% in the 4th quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 315 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in LTC Properties by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust's stock worth $162,000 after acquiring an additional 327 shares in the last quarter. Bridge City Capital LLC boosted its stake in shares of LTC Properties by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust's stock valued at $1,537,000 after purchasing an additional 391 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of LTC Properties by 4.1% during the fourth quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 392 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
LTC has been the subject of a number of analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $36.00 target price on shares of LTC Properties in a research report on Monday, May 19th. Wells Fargo & Company decreased their price target on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, LTC Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.
Read Our Latest Research Report on LTC
LTC Properties Stock Performance
Shares of NYSE:LTC traded up $0.41 during midday trading on Friday, reaching $35.26. The company's stock had a trading volume of 334,068 shares, compared to its average volume of 312,730. The firm has a market capitalization of $1.62 billion, a PE ratio of 15.13 and a beta of 0.68. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89. The stock has a fifty day moving average of $35.14 and a 200 day moving average of $35.53. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.
LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm's revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.
LTC Properties Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 22nd. This represents a dividend yield of 6.31%. LTC Properties's payout ratio is currently 117.53%.
LTC Properties Company Profile
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Free Report)
LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.
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