Renaissance Technologies LLC boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 69.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,700 shares of the real estate investment trust's stock after buying an additional 85,000 shares during the quarter. Renaissance Technologies LLC owned 0.46% of LTC Properties worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of LTC. AlphaQuest LLC increased its holdings in LTC Properties by 23,470.0% during the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 2,347 shares in the last quarter. GAMMA Investing LLC raised its stake in LTC Properties by 35.3% during the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 638 shares during the period. PNC Financial Services Group Inc. boosted its holdings in LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 565 shares during the last quarter. FMR LLC grew its holdings in shares of LTC Properties by 132.7% during the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock worth $106,000 after purchasing an additional 1,653 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in LTC Properties by 4.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after buying an additional 314 shares during the period. Institutional investors and hedge funds own 69.25% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the company. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Tuesday, January 7th. Citizens Jmp upgraded shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their target price on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, March 10th.
Get Our Latest Report on LTC Properties
LTC Properties Price Performance
NYSE LTC opened at $35.72 on Friday. The company has a 50-day moving average price of $34.89 and a two-hundred day moving average price of $35.71. LTC Properties, Inc. has a 52 week low of $31.24 and a 52 week high of $39.89. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 15.33 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 (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $34.81 million for the quarter, compared to analysts' expectations of $45.25 million. Analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current year.
LTC Properties Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.38%. The ex-dividend date is Friday, June 20th. LTC Properties's payout ratio is currently 111.22%.
About LTC Properties
(
Free Report)
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.
Further Reading
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 - Free Report).
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