State Board of Administration of Florida Retirement System continued to hold its position in LTC Properties, Inc. (NYSE:LTC) during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,148 shares of the real estate investment trust’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of LTC Properties worth $1,447,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Waterfront Capital Partners LLC purchased a new position in shares of LTC Properties in the 1st quarter worth $757,000. ProShare Advisors LLC raised its holdings in LTC Properties by 180.0% in the 1st quarter. ProShare Advisors LLC now owns 19,396 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 12,470 shares during the period. Victory Capital Management Inc. raised its holdings in LTC Properties by 31.9% in the 1st quarter. Victory Capital Management Inc. now owns 988,880 shares of the real estate investment trust’s stock worth $47,367,000 after purchasing an additional 239,198 shares during the period. Stifel Financial Corp raised its holdings in LTC Properties by 8.8% in the 1st quarter. Stifel Financial Corp now owns 11,068 shares of the real estate investment trust’s stock worth $529,000 after purchasing an additional 899 shares during the period. Finally, Renaissance Technologies LLC bought a new position in LTC Properties in the 1st quarter worth $1,068,000. Hedge funds and other institutional investors own 81.37% of the company’s stock.
A number of brokerages recently commented on LTC. Stifel Nicolaus set a $46.00 target price on LTC Properties and gave the stock a “hold” rating in a report on Sunday, August 13th. Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a report on Thursday. BMO Capital Markets cut LTC Properties from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $50.00 to $44.00 in a report on Friday, August 11th. BidaskClub cut LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Mizuho reaffirmed a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.60.
COPYRIGHT VIOLATION WARNING: “State Board of Administration of Florida Retirement System Has $1,447,000 Stake in LTC Properties, Inc. (LTC)” was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/09/17/state-board-of-administration-of-florida-retirement-system-has-1447000-stake-in-ltc-properties-inc-ltc.html.
Shares of LTC Properties, Inc. (LTC) opened at 48.93 on Friday. LTC Properties, Inc. has a 12-month low of $43.17 and a 12-month high of $53.08. The firm’s 50-day moving average price is $48.91 and its 200-day moving average price is $48.77. The company has a market capitalization of $1.94 billion, a PE ratio of 21.51 and a beta of 0.15.
LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 EPS for the quarter, beating the 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 analyst estimates of $35.08 million. On average, analysts expect that LTC Properties, Inc. will post $2.18 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 23rd were issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 4.66%. The ex-dividend date was Monday, August 21st. LTC Properties’s payout ratio is 100.00%.
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).
Want to see what other hedge funds are holding LTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LTC Properties, Inc. (NYSE:LTC).
Receive News & Ratings for LTC Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.