Martingale Asset Management L P Purchases New Shares in LTC Properties, Inc. (NYSE:LTC)

Martingale Asset Management L P bought a new position in LTC Properties, Inc. (NYSE:LTC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 34,211 shares of the real estate investment trust's stock, valued at approximately $1,182,000. Martingale Asset Management L P owned about 0.08% of LTC Properties as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LTC. Strategic Financial Concepts LLC boosted its stake in LTC Properties by 3,358.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock worth $22,735,000 after purchasing an additional 638,999 shares during the period. State Street Corp boosted its position in shares of LTC Properties by 5.8% in the third quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust's stock worth $121,262,000 after buying an additional 181,973 shares during the period. Norges Bank purchased a new position in shares of LTC Properties during the fourth quarter valued at $5,000,000. JPMorgan Chase & Co. raised its position in LTC Properties by 80.4% during the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust's stock valued at $9,312,000 after buying an additional 113,100 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in LTC Properties by 69.3% in the 4th quarter. Renaissance Technologies LLC now owns 207,700 shares of the real estate investment trust's stock worth $7,176,000 after acquiring an additional 85,000 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LTC shares. Citizens Jmp upgraded LTC Properties from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. JMP Securities raised LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price objective on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th.

LTC Properties Stock Performance

LTC traded up $0.65 during trading on Monday, hitting $34.72. The stock had a trading volume of 239,175 shares, compared to its average volume of 300,446. The firm has a market cap of $1.59 billion, a PE ratio of 14.90 and a beta of 0.74. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 12 month low of $31.24 and a 12 month high of $39.89. The company has a 50 day simple moving average of $34.82 and a 200-day simple moving average of $35.73.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. Analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.57%. LTC Properties's dividend payout ratio (DPR) is presently 111.22%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.