LTC Properties, Inc. (LTC) Position Boosted by Friedberg Investment Management

Friedberg Investment Management lifted its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,559 shares of the real estate investment trust’s stock after acquiring an additional 649 shares during the quarter. Friedberg Investment Management owned approximately 0.10% of LTC Properties worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Pinebridge Investments L.P. raised its holdings in shares of LTC Properties by 0.9% during the second quarter. Pinebridge Investments L.P. now owns 5,213 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 49 shares in the last quarter. People s United Financial Inc. raised its holdings in shares of LTC Properties by 0.9% during the second quarter. People s United Financial Inc. now owns 17,639 shares of the real estate investment trust’s stock valued at $907,000 after acquiring an additional 150 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of LTC Properties by 12.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 231 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of LTC Properties by 0.8% during the second quarter. Texas Permanent School Fund now owns 28,892 shares of the real estate investment trust’s stock valued at $1,485,000 after acquiring an additional 233 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LTC Properties by 12.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 256 shares in the last quarter. Institutional investors own 81.48% of the company’s stock.

LTC Properties, Inc. (NYSE LTC) traded up 0.11% during trading on Friday, reaching $46.92. The company’s stock had a trading volume of 140,889 shares. LTC Properties, Inc. has a 12-month low of $43.17 and a 12-month high of $52.85. The firm’s 50-day moving average price is $47.84 and its 200 day moving average price is $48.84. The company has a market capitalization of $1.86 billion, a P/E ratio of 20.62 and a beta of 0.16.

LTC Properties (NYSE:LTC) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million during the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. On average, analysts predict that LTC Properties, Inc. will post $2.18 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s dividend payout ratio (DPR) is presently 100.00%.

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A number of equities analysts recently commented on the company. BidaskClub downgraded LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $50.00 to $44.00 in a report on Friday, August 11th. Stifel Nicolaus set a $46.00 target price on LTC Properties and gave the company a “hold” rating in a report on Sunday, August 13th. Capital One Financial Corporation assumed coverage on LTC Properties in a report on Monday, September 25th. They set an “overweight” rating and a $50.00 target price for the company. Finally, KeyCorp restated a “hold” rating on shares of LTC Properties in a report on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $50.50.

LTC Properties Profile

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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