17,944 Shares in LTC Properties, Inc. (NYSE:LTC) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,944 shares of the real estate investment trust's stock, valued at approximately $618,000.

A number of other large investors also recently modified their holdings of LTC. Mutual of America Capital Management LLC grew its stake in shares of LTC Properties by 4.8% in the 4th 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 in the last quarter. Amalgamated Bank lifted its holdings in LTC Properties by 2.5% during the fourth quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 315 shares during the period. Bridge City Capital LLC raised its position in LTC Properties by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust's stock worth $1,537,000 after acquiring an additional 391 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of LTC Properties by 3.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,638 shares of the real estate investment trust's stock worth $368,000 after purchasing an additional 400 shares during the last quarter. Finally, American Century Companies Inc. increased its position in LTC Properties by 3.4% in 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 last quarter. Institutional investors own 69.25% of the company's stock.

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Wall Street Analyst Weigh In

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

LTC Properties Price Performance

LTC traded up $0.65 on Monday, reaching $34.72. The company had a trading volume of 239,175 shares, compared to its average volume of 300,446. LTC Properties, Inc. has a 52-week low of $31.24 and a 52-week high of $39.89. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 14.90 and a beta of 0.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The business 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 announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. As a group, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.57%. The ex-dividend date is Friday, June 20th. LTC Properties's dividend payout ratio is currently 111.22%.

LTC Properties 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.