GAMMA Investing LLC boosted its position in LTC Properties, Inc. (NYSE:LTC - Free Report) by 3,445.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,604 shares of the real estate investment trust's stock after buying an additional 84,161 shares during the period. GAMMA Investing LLC owned approximately 0.19% of LTC Properties worth $3,070,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LTC. GF Fund Management CO. LTD. acquired a new stake in LTC Properties in the fourth quarter valued at $27,000. AlphaQuest LLC raised its stake in shares of LTC Properties by 23,470.0% during the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock worth $81,000 after buying an additional 2,347 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of LTC Properties by 28.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock worth $88,000 after buying an additional 565 shares during the last quarter. State of Wyoming raised its stake in shares of LTC Properties by 91.7% during the 4th quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock worth $101,000 after buying an additional 1,396 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of LTC Properties by 49.2% during the 4th quarter. Lazard Asset Management LLC now owns 4,065 shares of the real estate investment trust's stock worth $140,000 after buying an additional 1,341 shares during the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.
LTC Properties Stock Down 1.4%
Shares of LTC traded down $0.49 during trading on Friday, reaching $35.08. The company's stock had a trading volume of 245,386 shares, compared to its average volume of 315,630. The company has a fifty day moving average of $35.25 and a two-hundred day moving average of $35.19. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 15.06 and a beta of 0.66. 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 announced its 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). The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business's revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. On average, sell-side analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.
LTC Properties Announces Dividend
The company also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 23rd were given a dividend of $0.19 per share. This represents a dividend yield of 6.31%. The ex-dividend date was Thursday, May 22nd. LTC Properties's dividend payout ratio is currently 117.53%.
Analyst Ratings Changes
LTC has been the subject of several research reports. Wells Fargo & Company cut their price target on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $36.00 price target on shares of LTC Properties in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, LTC Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.
Check Out Our Latest Stock Report on LTC
LTC Properties Profile
(
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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