Pitcairn Co. Has $329,000 Position in LTC Properties, Inc. (LTC)
Pitcairn Co. increased its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,403 shares of the real estate investment trust’s stock after buying an additional 289 shares during the period. Pitcairn Co.’s holdings in LTC Properties were worth $329,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of LTC Properties by 12.7% in 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 buying an additional 256 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of LTC Properties by 39.1% in the first quarter. Daiwa Securities Group Inc. now owns 3,200 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of LTC Properties during the first quarter valued at approximately $156,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of LTC Properties during the second quarter valued at approximately $203,000. Finally, Park Avenue Securities LLC bought a new stake in shares of LTC Properties during the second quarter valued at approximately $207,000. 83.33% of the stock is owned by institutional investors and hedge funds.
Shares of LTC Properties, Inc. (NYSE LTC) opened at 47.33 on Wednesday. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $54.20. The stock’s 50 day moving average price is $50.59 and its 200-day moving average price is $48.52. The stock has a market capitalization of $1.87 billion, a P/E ratio of 20.80 and a beta of 0.12.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $42.47 million for 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%. Equities research analysts anticipate that LTC Properties, Inc. will post $2.20 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be issued a $0.19 dividend. The ex-dividend date is Monday, August 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.82%. LTC Properties’s dividend payout ratio (DPR) is 100.00%.
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Several equities research analysts have recently commented on the company. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $50.00 to $44.00 in a report on Friday, August 11th. BidaskClub downgraded LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday. Stifel Nicolaus set a $46.00 price objective on LTC Properties and gave the stock a “hold” rating in a research note on Sunday. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of LTC Properties in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target 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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