Tower Research Capital LLC TRC Has $143,000 Stake in LTC Properties Inc. (LTC)
Tower Research Capital LLC TRC increased its stake in LTC Properties Inc. (NYSE:LTC) by 1,009.2% during the second quarter, Holdings Channel reports. The fund owned 2,773 shares of the real estate investment trust’s stock after buying an additional 2,523 shares during the period. Tower Research Capital LLC TRC’s holdings in LTC Properties were worth $143,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of LTC. Vanguard Group Inc. boosted its position in LTC Properties by 6.6% in the second quarter. Vanguard Group Inc. now owns 5,903,710 shares of the real estate investment trust’s stock valued at $305,398,000 after buying an additional 363,196 shares during the period. BlackRock Fund Advisors boosted 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 during the period. BlackRock Institutional Trust Company N.A. boosted 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 during the period. State Street Corp boosted 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 during the period. Finally, Royal Bank of Canada boosted 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 during the period. 82.89% of the stock is owned by institutional investors.
Shares of LTC Properties Inc. (NYSE:LTC) opened at 48.92 on Friday. The firm has a market capitalization of $1.92 billion, a PE ratio of 23.17 and a beta of 0.36. LTC Properties Inc. has a 12 month low of $40.02 and a 12 month high of $54.20. The stock’s 50 day moving average price is $51.68 and its 200-day moving average price is $49.68.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $40 million for the quarter, compared to the consensus estimate of $33.66 million. LTC Properties had a return on equity of 11.83% and a net margin of 52.62%. During the same period last year, the business posted $0.67 earnings per share. On average, equities analysts anticipate that LTC Properties Inc. will post $3.06 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 22nd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, November 18th. LTC Properties’s dividend payout ratio is currently 102.37%.
Several research analysts recently commented on LTC shares. Zacks Investment Research cut LTC Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank Of Canada cut LTC Properties from an “outperform” rating to a “sector perform” rating and set a $50.00 price target on the stock. in a research note on Friday, June 17th. Canaccord Genuity boosted their price target on LTC Properties from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Cantor Fitzgerald started coverage on LTC Properties in a research note on Thursday, June 23rd. They issued a “buy” rating on the stock. Finally, Mizuho cut LTC Properties from a “buy” rating to a “neutral” rating and set a $53.00 price target on the stock. in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.
In other news, Director Timothy Triche sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $52.13, for a total value of $104,260.00. Following the sale, the director now directly owns 36,188 shares of the company’s stock, valued at $1,886,480.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is 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.
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