Amalgamated Bank Acquires 357 Shares of LTC Properties, Inc. (LTC)
Amalgamated Bank grew its holdings in LTC Properties, Inc. (NYSE:LTC) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,373 shares of the real estate investment trust’s stock after purchasing an additional 357 shares during the quarter. Amalgamated Bank’s holdings in LTC Properties were worth $276,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of LTC. BlackRock Inc. raised its holdings in shares of LTC Properties by 10,627.1% in the 1st quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after purchasing an additional 6,028,663 shares in the last quarter. Uniplan Investment Counsel Inc. raised its holdings in shares of LTC Properties by 89.0% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock valued at $36,538,000 after purchasing an additional 623,870 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of LTC Properties by 2.5% in 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 purchasing an additional 158,054 shares in the last quarter. State Street Corp raised its holdings in shares of LTC Properties by 5.8% in 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 purchasing an additional 80,638 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of LTC Properties by 8.9% in 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 purchasing an additional 47,819 shares in the last quarter. Institutional investors and hedge funds own 81.48% of the company’s stock.
LTC has been the subject of several recent research reports. BidaskClub upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BMO Capital Markets lowered shares of LTC Properties from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $50.00 to $44.00 in a report on Friday, August 11th. Capital One Financial Corporation assumed coverage on shares of LTC Properties in a research note on Monday, September 25th. They set an “overweight” rating and a $50.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $50.00 price objective 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 issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $50.50.
Shares of LTC Properties, Inc. (NYSE LTC) opened at 47.02 on Thursday. The stock has a market cap of $1.86 billion, a P/E ratio of 20.67 and a beta of 0.16. LTC Properties, Inc. has a 52-week low of $43.17 and a 52-week high of $52.85. The firm’s 50-day moving average is $47.78 and its 200 day moving average is $48.86.
LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. The company had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $35.08 million. Analysts forecast that LTC Properties, Inc. will post $2.18 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 4.85%. LTC Properties’s payout ratio is currently 100.00%.
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LTC Properties Company Profile
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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