Teacher Retirement System of Texas Boosts Position in LTC Properties Inc. (LTC)
Teacher Retirement System of Texas raised its stake in shares of LTC Properties Inc. (NYSE:LTC) by 43.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,329 shares of the real estate investment trust’s stock after buying an additional 14,234 shares during the period. Teacher Retirement System of Texas owned 0.12% of LTC Properties worth $2,448,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in LTC Properties by 5.8% in the first quarter. BlackRock Fund Advisors now owns 2,390,896 shares of the real estate investment trust’s stock valued at $108,164,000 after buying an additional 130,452 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in LTC Properties by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,416,238 shares of the real estate investment trust’s stock valued at $64,071,000 after buying an additional 30,220 shares in the last quarter. State Street Corp raised its position in LTC Properties by 6.7% in the first quarter. State Street Corp now owns 1,223,106 shares of the real estate investment trust’s stock valued at $55,337,000 after buying an additional 76,790 shares in the last quarter. Royal Bank of Canada raised its position in LTC Properties by 2.7% in the first quarter. Royal Bank of Canada now owns 1,124,204 shares of the real estate investment trust’s stock valued at $50,859,000 after buying an additional 29,492 shares in the last quarter. Finally, Shinko Asset Management Co. Ltd. raised its position in LTC Properties by 26.3% in the second quarter. Shinko Asset Management Co. Ltd. now owns 890,743 shares of the real estate investment trust’s stock valued at $46,078,000 after buying an additional 185,425 shares in the last quarter. 82.89% of the stock is currently owned by institutional investors.
Shares of LTC Properties Inc. (NYSE:LTC) traded up 1.45% during midday trading on Thursday, hitting $52.64. 39,679 shares of the stock were exchanged. The stock has a market cap of $2.06 billion, a P/E ratio of 24.94 and a beta of 0.41. The firm has a 50 day moving average of $51.92 and a 200-day moving average of $49.14. LTC Properties Inc. has a 12 month low of $40.02 and a 12 month high of $54.20.
LTC Properties (NYSE:LTC) last released its earnings results on Monday, August 1st. The real estate investment trust reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. LTC Properties had a net margin of 52.62% and a return on equity of 11.83%. The firm had revenue of $40 million for the quarter, compared to the consensus estimate of $33.66 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Equities research analysts anticipate that LTC Properties Inc. will post $3.06 EPS for the current year.
The business also recently announced a monthly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Tuesday, August 23rd were issued a $0.18 dividend. This represents a $2.16 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, August 19th. LTC Properties’s dividend payout ratio (DPR) is presently 102.37%.
LTC has been the topic of several recent research reports. Royal Bank Of Canada lowered shares of LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 target price on the stock. in a report on Friday, June 17th. Canaccord Genuity increased their target price on shares of LTC Properties from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, August 15th. Cantor Fitzgerald initiated coverage on shares of LTC Properties in a report on Thursday, June 23rd. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Mizuho lowered shares of LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.00.
In other news, Director Timothy Triche sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total value of $104,260.00. Following the transaction, the director now owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
Want to see what other hedge funds are holding LTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LTC Properties Inc. (NYSE:LTC).
Receive News & Ratings for LTC Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.