Resona Asset Management Co. Ltd. Takes Position in LTC Properties, Inc. (NYSE:LTC)

Resona Asset Management Co. Ltd. acquired a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,944 shares of the real estate investment trust's stock, valued at approximately $618,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of LTC Properties by 148.8% in the 3rd quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust's stock valued at $3,228,000 after purchasing an additional 52,619 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of LTC Properties by 80.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust's stock valued at $9,312,000 after acquiring an additional 113,100 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of LTC Properties by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust's stock valued at $8,408,000 after acquiring an additional 14,778 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in LTC Properties in the 4th quarter worth approximately $250,000. Finally, Bank of New York Mellon Corp boosted its position in LTC Properties by 6.1% during the fourth quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust's stock worth $33,260,000 after purchasing an additional 55,254 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

LTC Properties Stock Performance

LTC stock traded up $0.36 on Wednesday, reaching $35.32. 53,189 shares of the company were exchanged, compared to its average volume of 347,834. The firm has a market capitalization of $1.62 billion, a PE ratio of 15.16 and a beta of 0.74. LTC Properties, Inc. has a 12 month low of $31.24 and a 12 month high of $39.89. The stock's fifty day moving average price is $34.83 and its 200 day moving average price is $35.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

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

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.46%. LTC Properties's dividend payout ratio is currently 111.22%.

About LTC Properties

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.