Victory Capital Management Inc. Has $52.88 Million Position in LTC Properties Inc (LTC)
Victory Capital Management Inc. boosted its stake in LTC Properties Inc (NYSE:LTC) by 14.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,214,154 shares of the real estate investment trust’s stock after acquiring an additional 152,673 shares during the period. Victory Capital Management Inc.’s holdings in LTC Properties were worth $52,876,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in LTC Properties by 12.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 231 shares during the last quarter. Quantbot Technologies LP bought a new stake in LTC Properties in the third quarter valued at approximately $139,000. Ameritas Investment Partners Inc. boosted its holdings in LTC Properties by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 200 shares during the last quarter. Shelton Capital Management bought a new stake in LTC Properties in the second quarter valued at approximately $202,000. Finally, Intrust Bank NA bought a new stake in LTC Properties in the third quarter valued at approximately $232,000. Institutional investors and hedge funds own 77.94% of the company’s stock.
In other LTC Properties news, Director Timothy Triche sold 2,720 shares of the stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $43.35, for a total transaction of $117,912.00. Following the transaction, the director now directly owns 34,656 shares in the company, valued at approximately $1,502,337.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James Pieczynski purchased 2,000 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were acquired at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the acquisition, the director now directly owns 17,974 shares in the company, valued at approximately $783,666.40. The disclosure for this purchase can be found here. Insiders have sold a total of 9,727 shares of company stock worth $436,470 over the last 90 days. Company insiders own 1.50% of the company’s stock.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.26. The firm had revenue of $41.25 million for the quarter, compared to analysts’ expectations of $32.91 million. LTC Properties had a return on equity of 11.69% and a net margin of 52.18%. During the same period in the prior year, the business earned $0.57 EPS. sell-side analysts anticipate that LTC Properties Inc will post 3.08 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date is Friday, February 16th. LTC Properties’s payout ratio is 102.24%.
Several brokerages recently commented on LTC. ValuEngine cut LTC Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. KeyCorp reiterated a “hold” rating on shares of LTC Properties in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of LTC Properties in a report on Monday, October 23rd. Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, BMO Capital Markets reiterated a “sell” rating and issued a $44.00 target price on shares of LTC Properties in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. LTC Properties currently has an average rating of “Hold” and a consensus price target of $49.71.
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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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