Norges Bank Purchases New Shares in LTC Properties, Inc. (NYSE:LTC)

Norges Bank bought a new position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 144,704 shares of the real estate investment trust's stock, valued at approximately $5,000,000. Norges Bank owned about 0.32% of LTC Properties at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its stake in shares of 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 acquiring an additional 314 shares during the last quarter. Amalgamated Bank increased its stake in LTC Properties by 2.5% during the 4th quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust's stock valued at $454,000 after purchasing an additional 315 shares in the last quarter. Bridge City Capital LLC increased its stake in LTC Properties by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust's stock valued at $1,537,000 after purchasing an additional 391 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of LTC Properties by 3.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,638 shares of the real estate investment trust's stock worth $368,000 after buying an additional 400 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of LTC Properties by 3.4% during the fourth quarter. American Century Companies Inc. now owns 16,821 shares of the real estate investment trust's stock worth $581,000 after buying an additional 550 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

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LTC Properties Stock Performance

Shares of LTC Properties stock traded up $0.40 during trading on Friday, hitting $34.10. 314,459 shares of the company's stock were exchanged, compared to its average volume of 301,041. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.63 and a beta of 0.74. The business has a 50-day simple moving average of $34.81 and a 200-day simple moving average of $35.74. LTC Properties, Inc. has a 52-week low of $31.24 and a 52-week high of $39.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

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

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.69%. LTC Properties's payout ratio is 111.22%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LTC. Citizens Jmp raised LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, March 10th.

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.