Envestnet Asset Management Inc. Grows Position in LTC Properties, Inc. (NYSE:LTC)

Key Points

• Envestnet Asset Management Inc. raised its stake in LTC Properties, Inc. by 45.1% during Q1, owning approximately 0.18% of the company worth nearly $2.9 million.
• The company reported Q1 earnings of $0.65 per share, missing estimates slightly, while revenue increased to $49.03 million, above expectations.
• LTC Properties declared a $0.19 per share dividend with a yield of 6.47%, set to be paid on July 31, representing a payout ratio of 117.53%.

Envestnet Asset Management Inc. boosted its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 45.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,624 shares of the real estate investment trust's stock after buying an additional 25,374 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of LTC Properties worth $2,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its stake in shares of 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 valued at $162,000 after acquiring an additional 327 shares during the last quarter. Keudell Morrison Wealth Management grew its stake in shares of LTC Properties by 0.9% in the 1st quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust's stock valued at $1,301,000 after buying an additional 328 shares during the period. BNP Paribas Financial Markets grew its stake in shares of LTC Properties by 4.1% in the 4th quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust's stock valued at $342,000 after buying an additional 392 shares during the period. American Century Companies Inc. grew its stake in shares of LTC Properties by 3.4% in the 4th quarter. American Century Companies Inc. now owns 16,821 shares of the real estate investment trust's stock valued at $581,000 after buying an additional 550 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of LTC Properties by 7.2% in the 4th quarter. Teacher Retirement System of Texas now owns 10,970 shares of the real estate investment trust's stock valued at $379,000 after buying an additional 734 shares during the period. Institutional investors and hedge funds own 69.25% of the company's stock.

LTC Properties Trading Up 0.2%

NYSE LTC traded up $0.08 during trading on Thursday, hitting $34.26. 74,068 shares of the company's stock traded hands, compared to its average volume of 342,589. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.55 and a quick ratio of 10.55. The stock has a fifty day moving average of $35.12 and a two-hundred day moving average of $35.03. The firm has a market cap of $1.57 billion, a P/E ratio of 17.66 and a beta of 0.65. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. During the same period in the previous year, the company earned $0.69 earnings per share. LTC Properties's quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 24th will be issued a $0.19 dividend. This represents a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 23rd. LTC Properties's dividend payout ratio is currently 117.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LTC. Royal Bank Of Canada reiterated a "sector perform" rating and set a $36.00 price target on shares of LTC Properties in a research note on Monday, May 19th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $38.00.

Insider Transactions at LTC Properties

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were acquired at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares of the company's stock, valued at $542,378.46. The trade was a 62.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company's stock.

LTC Properties Company Profile

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.