Virginia Retirement Systems ET AL makes a new investment in LTC Properties, Inc. (NYSE:LTC)


Virginia Retirement Systems ET AL purchased a new stake in shares of LTC Properties, Inc. (NYSE:LTC – Get Rating ) in the first quarter, Holdings Channel.com reports. The fund purchased 13,400 shares of the real estate investment trust’s stock, valued at approximately $515,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in LTC Properties by 8.3% in the 4th quarter. State Street Corp now owns 2,778,835 shares of the real estate investment trust’s stock valued at $94,869,000 after buying an additional 213,028 shares during the last quarter. Invesco Ltd. raised its stake in shares of LTC Properties by 10.7% during the 4th quarter. Invesco Ltd. now owns 913,638 shares of the real estate investment trust’s stock valued at $31,191,000 after purchasing an additional 88,222 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LTC Properties by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 543,234 shares of the real estate investment trust’s stock worth $18,547,000 after acquiring an additional 19,255 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of LTC Properties by 15.7% during the fourth quarter. JPMorgan Chase & Co. now owns 327,568 shares of the real estate investment trust’s stock valued at $11,182,000 after acquiring an additional 44,375 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in LTC Properties by 41.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 152,912 shares of the real estate investment trust’s stock valued at $5,197,000 after acquiring an additional 44,912 shares in the last quarter. 72.14% of the shares are currently owned by institutional investors and hedge funds.

A number of research analysts have issued reports on LTC shares. KeyCorp boosted their target price on shares of LTC Properties from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com began coverage on shares of LTC Properties in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada upgraded shares of LTC Properties from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $34.00 to $37.00 in a research report on Monday, March 14th. Capital One Financial began coverage on LTC Properties in a research report on Friday, June 3rd. They issued an “equal weight” rating and a $41.00 target price on the stock. Finally, Credit Suisse Group boosted their price objective on LTC Properties from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, April 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. LTC Properties currently has an average rating of “Hold” and a consensus target price of $38.00, according to MarketBeat.

Shares of LTC Properties stock opened at $38.36 on Friday. The company has a market cap of $1.51 billion, a P/E ratio of 27.01 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a current ratio of 15.55, and a quick ratio of 15.55. The business has a 50 day moving average of $37.44 and a 200 day moving average of $36.14. LTC Properties, Inc. has a 1-year low of $31.36 and a 1-year high of $40.33.

LTC Properties (NYSE:LTC – Get Rating ) last issued its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.26). The business had revenue of $40.80 million during the quarter, compared to analyst estimates of $37.08 million. LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. LTC Properties’s revenue for the quarter was up 1.2% compared to the same quarter last year. In the same quarter last year, the firm reported $0.62 earnings per share. On average, equities analysts expect that LTC Properties, Inc. will post 2.55 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.19 per share. This represents a $2.28 annual dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Wednesday, September 21st. LTC Properties’s dividend payout ratio is 160.56%.

About LTC Properties (Get Rating)

LTC is a real estate investment trust (REIT) investing in senior housing and healthcare properties primarily through sale-leasebacks, mortgage financing, joint ventures and structured finance solutions, including preferred equity and mezzanine lending. LTC has 181 investments in 27 countries with 29 operating partners.

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Want to see what other hedge funds hold LTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LTC Properties, Inc. (NYSE:LTC – Get Rating).

Institutional Ownership by Quarter for Long Term Property (NYSE:LTC)



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