BlackRock Inc. Sells 137,647 Shares of LTC Properties, Inc. (LTC)
BlackRock Inc. cut its stake in LTC Properties, Inc. (NYSE:LTC) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,947,745 shares of the real estate investment trust’s stock after selling 137,647 shares during the quarter. BlackRock Inc. owned about 15.03% of LTC Properties worth $305,656,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Uniplan Investment Counsel Inc. raised its holdings in shares of LTC Properties by 89.0% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock worth $36,538,000 after acquiring an additional 623,870 shares during the period. Vanguard Group Inc. boosted its position in shares of LTC Properties by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 6,409,468 shares of the real estate investment trust’s stock valued at $307,014,000 after acquiring an additional 158,054 shares during the last quarter. State Street Corp boosted its position in shares of LTC Properties by 5.8% during the 1st quarter. State Street Corp now owns 1,480,277 shares of the real estate investment trust’s stock valued at $70,905,000 after acquiring an additional 80,638 shares during the last quarter. Dean Capital Management acquired a new position in shares of LTC Properties during the 1st quarter valued at about $3,417,000. Finally, Nuveen Asset Management LLC boosted its position in shares of LTC Properties by 8.9% during the 1st quarter. Nuveen Asset Management LLC now owns 583,513 shares of the real estate investment trust’s stock valued at $27,950,000 after acquiring an additional 47,819 shares during the last quarter. 81.48% of the stock is owned by institutional investors and hedge funds.
Shares of LTC Properties, Inc. (NYSE:LTC) opened at 46.98 on Monday. LTC Properties, Inc. has a one year low of $43.17 and a one year high of $52.85. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.65 and a beta of 0.16. The company has a 50-day moving average of $48.71 and a 200 day moving average of $48.79.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. The company had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. Equities research analysts forecast that LTC Properties, Inc. will post $2.18 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, September 21st were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, September 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.85%. LTC Properties’s payout ratio is 100.00%.
Several research firms recently issued reports on LTC. BidaskClub upgraded shares of LTC Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. KeyCorp reaffirmed a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. Stifel Nicolaus set a $46.00 target price on shares of LTC Properties and gave the company a “hold” rating in a report on Sunday, August 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price target on shares of LTC Properties in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.50.
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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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