Victory Capital Management Inc. Boosts Holdings in LTC Properties, Inc. (LTC)
Victory Capital Management Inc. raised its stake in LTC Properties, Inc. (NYSE:LTC) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,061,481 shares of the real estate investment trust’s stock after acquiring an additional 76,325 shares during the quarter. Victory Capital Management Inc. owned about 2.68% of LTC Properties worth $49,869,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of LTC Properties by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,477,456 shares of the real estate investment trust’s stock valued at $332,876,000 after purchasing an additional 67,988 shares during the last quarter. BlackRock Inc. boosted its stake in shares of LTC Properties by 10,627.1% in the 1st quarter. BlackRock Inc. now owns 6,085,392 shares of the real estate investment trust’s stock valued at $291,489,000 after purchasing an additional 6,028,663 shares during the last quarter. State Street Corp boosted its stake in shares of LTC Properties by 2.0% in the 2nd quarter. State Street Corp now owns 1,509,897 shares of the real estate investment trust’s stock valued at $77,593,000 after purchasing an additional 29,620 shares during the last quarter. Northern Trust Corp boosted its stake in shares of LTC Properties by 3.2% in the 2nd quarter. Northern Trust Corp now owns 1,471,619 shares of the real estate investment trust’s stock valued at $75,627,000 after purchasing an additional 45,234 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its stake in shares of LTC Properties by 89.0% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock valued at $36,538,000 after purchasing an additional 623,870 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.
Several research analysts have recently issued reports on the stock. BidaskClub lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. BMO Capital Markets lowered shares of LTC Properties from a “market perform” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $44.00 in a research note on Friday, August 11th. Stifel Nicolaus set a $46.00 price objective on shares of LTC Properties and gave the stock a “hold” rating in a research note on Sunday, August 13th. KeyCorp reissued a “hold” rating on shares of LTC Properties in a research note on Tuesday, October 17th. Finally, Capital One Financial Corporation began coverage on shares of LTC Properties in a research note on Monday, September 25th. They set an “overweight” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. LTC Properties currently has a consensus rating of “Hold” and an average price target of $50.17.
LTC Properties, Inc. (LTC) opened at $46.70 on Monday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 7.84 and a current ratio of 7.84. The company has a market cap of $1,847.64, a price-to-earnings ratio of 15.02, a P/E/G ratio of 3.80 and a beta of 0.18.
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 for the quarter, beating the Zacks’ 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 firm had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. equities analysts predict that LTC Properties, Inc. will post 3.07 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 22nd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Tuesday, November 21st. LTC Properties’s payout ratio is currently 100.00%.
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LTC Properties 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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