Knights of Columbus Asset Advisors LLC Acquires 68,717 Shares of LTC Properties, Inc. $LTC

Knights of Columbus Asset Advisors LLC bought a new stake in shares of LTC Properties, Inc. (NYSE:LTC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 68,717 shares of the real estate investment trust’s stock, valued at approximately $2,946,000.

Other hedge funds have also made changes to their positions in the company. 180 Wealth Advisors LLC bought a new position in shares of LTC Properties during the 3rd quarter worth $330,000. Heritage Family Offices LLP purchased a new position in shares of LTC Properties during the third quarter valued at $68,000. Kestra Advisory Services LLC increased its stake in shares of LTC Properties by 16.1% during the third quarter. Kestra Advisory Services LLC now owns 62,853 shares of the real estate investment trust’s stock valued at $2,694,000 after buying an additional 8,708 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of LTC Properties by 3.7% during the third quarter. Commonwealth Equity Services LLC now owns 8,733 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 314 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of LTC Properties by 4.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 12,138 shares of the real estate investment trust’s stock valued at $520,000 after acquiring an additional 500 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LTC. Nomura raised shares of LTC Properties to a “neutral” rating in a research note on Friday, August 14th. Weiss Ratings upgraded shares of LTC Properties from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Royal Bank Of Canada raised their target price on shares of LTC Properties from $52.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday. Deutsche Bank raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Thursday, August 27th. Finally, Wells Fargo & Company boosted their price target on shares of LTC Properties from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.60.

LTC Properties Stock Down 1.2%

LTC Properties stock opened at $43.92 on Thursday. The business has a fifty day moving average of $43.21 and a two-hundred day moving average of $39.82. The company has a quick ratio of 10.37, a current ratio of 10.37 and a debt-to-equity ratio of 0.58. The firm has a market cap of $2.47 billion, a P/E ratio of 16.00 and a beta of 0.55. LTC Properties, Inc. has a twelve month low of $33.64 and a twelve month high of $46.92.

LTC Properties (NYSE:LTC) last announced its earnings results on Tuesday, November 3rd. The real estate investment trust reported $6.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $5.69. LTC Properties had a return on equity of 37.19% and a net margin of 127.38%. The business had revenue of $114.08 million for the quarter, compared to analysts’ expectations of $86.30 million. During the same quarter last year, the firm earned $0.72 EPS. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. On average, analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 23rd will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Wednesday, December 23rd. LTC Properties’s dividend payout ratio is 23.90%.

LTC Properties Company Profile

LTC Properties, Inc. is a real estate investment trust focused on properties serving the senior housing and health care sectors. Its investments include assisted living, memory care, independent living and skilled nursing facilities. The company provides capital to property owners and operators through real estate investments, including property leases, mortgage loans and joint ventures. LTC generally partners with third-party operators that provide care and manage the facilities. Founded in 1992 and headquartered in Westlake Village, California, LTC invests in properties across the United States.