Nisa Investment Advisors LLC Boosts Stock Position in LTC Properties Inc (NYSE:LTC)
Nisa Investment Advisors LLC boosted its holdings in shares of LTC Properties Inc (NYSE:LTC) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,157 shares of the real estate investment trust’s stock after purchasing an additional 7,923 shares during the quarter. Nisa Investment Advisors LLC’s holdings in LTC Properties were worth $2,680,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Ameritas Investment Company LLC bought a new stake in shares of LTC Properties in the 1st quarter valued at approximately $25,000. HHM Wealth Advisors LLC bought a new stake in shares of LTC Properties in the 1st quarter valued at approximately $39,000. Sound Income Strategies LLC increased its holdings in shares of LTC Properties by 1,173.5% in the 1st quarter. Sound Income Strategies LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,326 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of LTC Properties by 12.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,828 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 315 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of LTC Properties in the 1st quarter valued at approximately $136,000. Institutional investors own 75.53% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Co boosted their price target on LTC Properties from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, June 19th. BMO Capital Markets reiterated a “sell” rating and issued a $37.00 price target on shares of LTC Properties in a report on Monday, May 4th. Mizuho lowered their price target on LTC Properties from $46.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, April 6th. ValuEngine upgraded LTC Properties from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Royal Bank of Canada restated a “sell” rating and set a $32.00 price objective on shares of LTC Properties in a research report on Sunday, May 17th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.43.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.66). LTC Properties had a net margin of 62.35% and a return on equity of 13.21%. The firm had revenue of $38.02 million during the quarter, compared to analyst estimates of $38.04 million. Research analysts anticipate that LTC Properties Inc will post 2.94 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 21st will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.28 dividend on an annualized basis and a yield of 6.14%. LTC Properties’s dividend payout ratio is 74.03%.
LTC Properties Profile
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.
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