Vanguard Group Inc. Increases Holdings in LTC Properties, Inc. (NYSE:LTC)

Vanguard Group Inc. increased its stake in LTC Properties, Inc. (NYSE:LTC) by 0.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,960,934 shares of the real estate investment trust’s stock after buying an additional 39,470 shares during the period. Vanguard Group Inc. owned about 0.15% of LTC Properties worth $240,500,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC boosted its holdings in LTC Properties by 23,470.0% in the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 2,347 shares during the period. GAMMA Investing LLC lifted its position in shares of LTC Properties by 35.3% during the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 638 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 565 shares during the period. FMR LLC boosted its holdings in shares of LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 1,653 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in shares of LTC Properties by 4.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 314 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LTC shares. Wells Fargo & Company decreased their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, January 7th.

LTC Properties Trading Down 2.2 %

Shares of LTC opened at $34.64 on Friday. LTC Properties, Inc. has a 1-year low of $31.14 and a 1-year high of $39.89. The company has a market capitalization of $1.57 billion, a P/E ratio of 14.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The firm’s 50 day simple moving average is $34.94 and its 200 day simple moving average is $35.91.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. Sell-side analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 6.58%. The ex-dividend date is Friday, June 20th. LTC Properties’s dividend payout ratio (DPR) is currently 111.22%.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.