Norges Bank Takes Position in LTC Properties, Inc. (NYSE:LTC)

Norges Bank purchased a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 144,704 shares of the real estate investment trust's stock, valued at approximately $5,000,000. Norges Bank owned approximately 0.32% of LTC Properties as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock worth $106,000 after acquiring an additional 1,653 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of LTC Properties by 26.7% during the third quarter. HighTower Advisors LLC now owns 17,060 shares of the real estate investment trust's stock worth $633,000 after buying an additional 3,600 shares during the period. Stifel Financial Corp purchased a new stake in shares of LTC Properties during the third quarter valued at $283,000. State Street Corp increased its position in shares of LTC Properties by 5.8% in the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust's stock valued at $121,262,000 after acquiring an additional 181,973 shares during the period. Finally, Jane Street Group LLC increased its position in shares of LTC Properties by 78.2% in the 3rd quarter. Jane Street Group LLC now owns 84,398 shares of the real estate investment trust's stock valued at $3,097,000 after acquiring an additional 37,049 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th. Citizens Jmp upgraded LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, JMP Securities upgraded shares of LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Tuesday, January 7th.

LTC Properties Price Performance

LTC traded up $0.23 on Tuesday, hitting $34.88. 29,361 shares of the company's stock were exchanged, compared to its average volume of 346,439. LTC Properties, Inc. has a fifty-two week low of $31.24 and a fifty-two week high of $39.89. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 14.97 and a beta of 0.74. The firm has a 50-day moving average price of $34.82 and a 200-day moving average price of $35.73. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The company had revenue of $34.81 million during the quarter, compared to analysts' expectations of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.19 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.54%. LTC Properties's dividend payout ratio is presently 111.22%.

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.