Principal Financial Group Inc. raised its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,309 shares of the real estate investment trust's stock after buying an additional 8,646 shares during the period. Principal Financial Group Inc. owned about 0.56% of LTC Properties worth $9,051,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in LTC Properties in the fourth quarter valued at $27,000. KBC Group NV purchased a new position in LTC Properties in the first quarter valued at $33,000. Rossby Financial LCC purchased a new position in LTC Properties in the first quarter valued at $58,000. AlphaQuest LLC boosted its holdings in LTC Properties by 23,470.0% in the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 2,347 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock valued at $88,000 after purchasing an additional 565 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.
LTC Properties Stock Up 0.2%
LTC Properties stock traded up $0.07 during midday trading on Wednesday, reaching $35.32. The company's stock had a trading volume of 509,799 shares, compared to its average volume of 321,532. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.62 billion, a P/E ratio of 18.20 and a beta of 0.65. The business has a 50-day simple moving average of $35.24 and a 200-day simple moving average of $34.97.
LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings results 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). LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm's quarterly revenue was down 4.5% on a year-over-year basis. On average, research analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.
LTC Properties Dividend Announcement
The firm also recently declared a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 24th will be paid a $0.19 dividend. This represents a yield of 6.47%. The ex-dividend date is Wednesday, July 23rd. LTC Properties's dividend payout ratio is presently 117.53%.
Insiders Place Their Bets
In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were bought at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the completion of the purchase, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. This represents a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
LTC has been the subject of a number of recent research reports. Wedbush upgraded LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $36.00 target price on shares of LTC Properties in a report on Monday, May 19th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $38.00.
Read Our Latest Research Report on LTC Properties
LTC Properties Company 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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