Texas Permanent School Fund Increases Position in LTC Properties, Inc. (LTC)
Texas Permanent School Fund boosted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 28,892 shares of the real estate investment trust’s stock after buying an additional 233 shares during the period. Texas Permanent School Fund’s holdings in LTC Properties were worth $1,485,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of LTC. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 worth $109,000 after buying an additional 256 shares in the last quarter. Daiwa Securities Group Inc. raised its position in 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 worth $153,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in LTC Properties during the first quarter worth about $156,000. Campbell & CO Investment Adviser LLC bought a new position in LTC Properties during the second quarter worth about $203,000. Finally, Park Avenue Securities LLC bought a new position in LTC Properties during the second quarter worth about $207,000. Institutional investors own 83.33% of the company’s stock.
LTC Properties, Inc. (NYSE LTC) opened at 47.33 on Wednesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 20.80 and a beta of 0.12. The stock has a 50 day moving average price of $50.59 and a 200-day moving average price of $48.52. LTC Properties, Inc. has a 12-month low of $43.17 and a 12-month high of $54.20.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $42.47 million for the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a return on equity of 11.99% and a net margin of 53.36%. Equities analysts forecast that LTC Properties, Inc. will post $2.20 earnings per share for the current year.
The business also recently declared 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 dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s dividend payout ratio (DPR) is 100.00%.
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A number of research firms have recently issued reports on LTC. Stifel Nicolaus set a $46.00 target price on LTC Properties and gave the company a “hold” rating in a report on Sunday. BidaskClub lowered LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets lowered LTC Properties from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $50.00 to $44.00 in a report on Friday, August 11th. Zacks Investment Research lowered LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Mizuho reissued a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. LTC Properties currently has an average rating of “Hold” and a consensus price target of $50.60.
LTC Properties Company Profile
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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