First Republic Investment Management Inc. bought a new position in shares of LTC Properties Inc (NYSE:LTC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 14,938 shares of the real estate investment trust’s stock, valued at approximately $638,000.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of LTC Properties by 21.5% during the 1st quarter. Wells Fargo & Company MN now owns 171,196 shares of the real estate investment trust’s stock worth $6,505,000 after buying an additional 30,272 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of LTC Properties by 6.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 447,394 shares of the real estate investment trust’s stock worth $17,001,000 after buying an additional 28,048 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of LTC Properties by 31.4% during the 1st quarter. Thrivent Financial for Lutherans now owns 41,291 shares of the real estate investment trust’s stock worth $1,569,000 after buying an additional 9,865 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of LTC Properties by 0.8% during the 1st quarter. Northern Trust Corp now owns 1,485,206 shares of the real estate investment trust’s stock worth $56,437,000 after buying an additional 11,856 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of LTC Properties by 2.0% during the 1st quarter. BlackRock Inc. now owns 6,170,046 shares of the real estate investment trust’s stock worth $234,461,000 after buying an additional 120,592 shares in the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

A number of equities analysts have issued reports on the company. ValuEngine upgraded LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Cantor Fitzgerald reiterated a “buy” rating and issued a $46.00 target price (up from $45.00) on shares of LTC Properties in a report on Thursday, August 9th. Royal Bank of Canada cut LTC Properties from a “sector perform” rating to an “underperform” rating in a report on Friday, June 1st. TheStreet upgraded LTC Properties from a “c+” rating to a “b-” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a report on Saturday, August 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.57.

Shares of NYSE:LTC opened at $44.38 on Monday. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 0.81. LTC Properties Inc has a 1-year low of $34.46 and a 1-year high of $49.59. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 3.69 and a beta of 0.10.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.98. LTC Properties had a return on equity of 16.84% and a net margin of 77.94%. The business had revenue of $33.93 million for the quarter, compared to analysts’ expectations of $34.55 million. sell-side analysts forecast that LTC Properties Inc will post 3.01 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 5.14%. The ex-dividend date is Wednesday, September 19th. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.

LTC Properties Company Profile

LTC Properties (NYSE: LTC) is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.

Further Reading: Earnings Per Share (EPS)

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

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