GAMMA Investing LLC Increases Stock Position in LTC Properties, Inc. (NYSE:LTC)

GAMMA Investing LLC grew its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 3,445.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,604 shares of the real estate investment trust’s stock after purchasing an additional 84,161 shares during the period. GAMMA Investing LLC’s holdings in LTC Properties were worth $3,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LTC. GF Fund Management CO. LTD. acquired a new stake in shares of LTC Properties in the 4th quarter valued at approximately $27,000. AlphaQuest LLC raised its position in LTC Properties by 23,470.0% in the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 2,347 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in 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 valued at $88,000 after acquiring an additional 565 shares during the period. State of Wyoming lifted its holdings in LTC Properties by 91.7% in the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,396 shares during the period. Finally, Lazard Asset Management LLC boosted its position in shares of LTC Properties by 49.2% during the 4th quarter. Lazard Asset Management LLC now owns 4,065 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LTC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price target on shares of LTC Properties in a report on Monday, May 19th. Wells Fargo & Company lowered their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LTC Properties currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

LTC Properties Stock Up 0.6%

LTC opened at $35.47 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 15.22 and a beta of 0.66. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $39.89. The business’s fifty day moving average is $35.16 and its two-hundred day moving average is $35.26.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $49.03 million for the quarter, compared to analyst estimates of $44.43 million. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were given a dividend of $0.19 per share. This represents a yield of 6.31%. The ex-dividend date of this dividend was Thursday, May 22nd. LTC Properties’s payout ratio is currently 117.53%.

LTC Properties Profile

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.