HL Financial Services LLC Holds Position in LTC Properties, Inc. (LTC)
HL Financial Services LLC maintained its stake in LTC Properties, Inc. (NYSE:LTC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,558 shares of the real estate investment trust’s stock at the end of the second quarter. HL Financial Services LLC’s holdings in LTC Properties were worth $234,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of LTC. Texas Permanent School Fund boosted its stake in LTC Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 28,892 shares of the real estate investment trust’s stock worth $1,485,000 after buying an additional 233 shares during the period. Barnett & Company Inc. boosted its stake in LTC Properties by 2.4% in the second quarter. Barnett & Company Inc. now owns 89,210 shares of the real estate investment trust’s stock worth $4,585,000 after buying an additional 2,075 shares during the period. Daiwa Securities Group Inc. boosted its stake in LTC Properties by 9.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 300 shares during the period. Great West Life Assurance Co. Can boosted its stake in LTC Properties by 2.9% in the second quarter. Great West Life Assurance Co. Can now owns 75,791 shares of the real estate investment trust’s stock worth $3,895,000 after buying an additional 2,165 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in LTC Properties by 4.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,350 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 390 shares during the period. 83.33% of the stock is currently owned by institutional investors.
Shares of LTC Properties, Inc. (LTC) opened at 48.21 on Thursday. The firm’s 50-day moving average is $50.50 and its 200-day moving average is $48.51. LTC Properties, Inc. has a one year low of $43.17 and a one year high of $54.20. The company has a market cap of $1.91 billion, a PE ratio of 21.19 and a beta of 0.12.
LTC Properties (NYSE:LTC) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. The company had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $35.08 million. On average, equities analysts anticipate that LTC Properties, Inc. will post $2.20 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 4.73%. The ex-dividend date is Monday, August 21st. LTC Properties’s dividend payout ratio is currently 100.00%.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus set a $46.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a report on Sunday. BidaskClub cut shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. BMO Capital Markets cut shares of LTC Properties from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $50.00 to $44.00 in a report on Friday, August 11th. Finally, Mizuho reaffirmed a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.60.
About LTC Properties
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).
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