BlackRock Inc. Has $291.49 Million Position in LTC Properties, Inc. (NYSE:LTC)
BlackRock Inc. boosted its position in LTC Properties, Inc. (NYSE:LTC) by 10,627.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,085,392 shares of the real estate investment trust’s stock after buying an additional 6,028,663 shares during the period. BlackRock Inc. owned approximately 15.37% of LTC Properties worth $291,489,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of LTC Properties during the fourth quarter valued at $18,524,000. Victory Capital Management Inc. increased its position in shares of LTC Properties by 31.9% in the first quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock valued at $47,367,000 after buying an additional 239,198 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LTC Properties by 2.5% in the first quarter. Vanguard Group Inc. now owns 6,409,468 shares of the real estate investment trust’s stock valued at $307,014,000 after buying an additional 158,054 shares during the last quarter. Dean Investment Associates LLC bought a new position in shares of LTC Properties during the first quarter valued at $6,539,000. Finally, Tributary Capital Management LLC increased its position in shares of LTC Properties by 24.6% in the first quarter. Tributary Capital Management LLC now owns 305,264 shares of the real estate investment trust’s stock valued at $14,622,000 after buying an additional 60,281 shares during the last quarter. Institutional investors and hedge funds own 83.24% of the company’s stock.
Shares of LTC Properties, Inc. (NYSE:LTC) traded down 0.51% on Friday, reaching $50.80. The company’s stock had a trading volume of 145,324 shares. The stock has a market cap of $2.01 billion, a PE ratio of 22.91 and a beta of 0.12. LTC Properties, Inc. has a 12-month low of $43.17 and a 12-month high of $54.20. The firm has a 50 day moving average price of $50.89 and a 200-day moving average price of $48.37.
LTC Properties (NYSE:LTC) last posted its earnings results on Monday, May 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by $0.24. LTC Properties had a net margin of 52.17% and a return on equity of 11.66%. The company had revenue of $42.62 million during the quarter, compared to analysts’ expectations of $34.82 million. Equities research analysts expect that LTC Properties, Inc. will post $2.21 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Monday, August 21st. LTC Properties’s payout ratio is currently 102.70%.
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Several equities analysts have recently weighed in on LTC shares. Mizuho restated a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Royal Bank Of Canada restated a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Tuesday, June 27th. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets reaffirmed a “hold” rating and set a $50.00 price objective on shares of LTC Properties in a research report on Tuesday, May 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $58.00 price objective on shares of LTC Properties in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.60.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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