Jennison Associates LLC raised its position in LTC Properties Inc (NYSE:LTC) by 66.3% in the first quarter, Holdings Channel reports. The fund owned 31,616 shares of the real estate investment trust’s stock after purchasing an additional 12,602 shares during the quarter. Jennison Associates LLC’s holdings in LTC Properties were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in LTC Properties during the fourth quarter worth about $28,000. Macroview Investment Management LLC bought a new position in LTC Properties during the fourth quarter worth about $33,000. Massey Quick Simon & CO. LLC bought a new position in LTC Properties during the first quarter worth about $34,000. Quadrant Capital Group LLC increased its position in LTC Properties by 833.9% during the first quarter. Quadrant Capital Group LLC now owns 1,130 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,009 shares during the period. Finally, Squar Milner Financial Services LLC bought a new position in LTC Properties during the first quarter worth about $65,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.
NYSE:LTC traded up $0.33 during mid-day trading on Wednesday, reaching $45.39. 558 shares of the company’s stock were exchanged, compared to its average volume of 192,118. LTC Properties Inc has a one year low of $40.11 and a one year high of $48.13. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 3.71 and a beta of 0.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 10.41 and a current ratio of 10.41.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.23). LTC Properties had a return on equity of 19.07% and a net margin of 95.25%. The business had revenue of $28.02 million for the quarter, compared to the consensus estimate of $33.02 million. Sell-side analysts anticipate that LTC Properties Inc will post 3.02 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Wednesday, June 19th. LTC Properties’s dividend payout ratio is 74.51%.
A number of research firms recently commented on LTC. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Saturday, June 1st. ValuEngine lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.40.
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About LTC Properties
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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