Friedberg Investment Management decreased its holdings in shares of LTC Properties Inc (NYSE:LTC) by 82.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,800 shares of the real estate investment trust’s stock after selling 31,759 shares during the quarter. Friedberg Investment Management’s holdings in LTC Properties were worth $319,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Summit Global Investments raised its position in LTC Properties by 30.8% in the second quarter. Summit Global Investments now owns 10,200 shares of the real estate investment trust’s stock valued at $524,000 after purchasing an additional 2,400 shares during the period. BNP Paribas Arbitrage SA increased its holdings in LTC Properties by 20.1% in the second quarter. BNP Paribas Arbitrage SA now owns 26,031 shares of the real estate investment trust’s stock valued at $1,338,000 after buying an additional 4,349 shares during the last quarter. AXA increased its holdings in LTC Properties by 57.4% in the second quarter. AXA now owns 82,265 shares of the real estate investment trust’s stock valued at $4,228,000 after buying an additional 30,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in LTC Properties in the first quarter valued at about $1,068,000. Finally, Wells Fargo & Company MN boosted its stake in LTC Properties by 2.9% in the second quarter. Wells Fargo & Company MN now owns 103,210 shares of the real estate investment trust’s stock valued at $5,305,000 after acquiring an additional 2,947 shares during the period. Institutional investors and hedge funds own 78.25% of the company’s stock.
Several equities analysts have recently issued reports on LTC shares. Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. BMO Capital Markets reaffirmed a “sell” rating and issued a $44.00 price target on shares of LTC Properties in a report on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. Royal Bank Of Canada restated a “hold” rating and set a $48.00 price target on shares of LTC Properties in a report on Monday, October 23rd. Finally, BidaskClub upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. LTC Properties currently has a consensus rating of “Hold” and a consensus target price of $50.17.
Shares of LTC Properties Inc (LTC) opened at $45.33 on Friday. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.84. LTC Properties Inc has a fifty-two week low of $44.91 and a fifty-two week high of $52.85. The stock has a market cap of $1,785.83, a PE ratio of 14.51, a price-to-earnings-growth ratio of 3.66 and a beta of 0.16.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.26. The company had revenue of $41.25 million during the quarter, compared to analysts’ expectations of $32.91 million. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. During the same period in the prior year, the company earned $0.57 earnings per share. equities research analysts predict that LTC Properties Inc will post 3.08 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Tuesday, November 21st. LTC Properties’s dividend payout ratio is currently 102.24%.
LTC Properties 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).