Albert D Mason Inc. boosted its position in LTC Properties Inc (NYSE:LTC) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,440 shares of the real estate investment trust’s stock after acquiring an additional 7,305 shares during the quarter. LTC Properties accounts for 1.2% of Albert D Mason Inc.’s holdings, making the stock its 22nd largest holding. Albert D Mason Inc. owned 0.10% of LTC Properties worth $1,784,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of LTC Properties by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 614,227 shares of the real estate investment trust’s stock worth $23,341,000 after buying an additional 18,378 shares during the last quarter. LPL Financial LLC grew its stake in shares of LTC Properties by 3.9% during the first quarter. LPL Financial LLC now owns 45,798 shares of the real estate investment trust’s stock worth $1,740,000 after buying an additional 1,723 shares during the last quarter. Legal & General Group Plc grew its stake in shares of LTC Properties by 12.5% during the first quarter. Legal & General Group Plc now owns 196,876 shares of the real estate investment trust’s stock worth $7,482,000 after buying an additional 21,832 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of LTC Properties during the first quarter worth $347,000. Finally, Principal Financial Group Inc. grew its stake in shares of LTC Properties by 1.8% during the first quarter. Principal Financial Group Inc. now owns 309,450 shares of the real estate investment trust’s stock worth $11,760,000 after buying an additional 5,591 shares during the last quarter. 75.47% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on LTC shares. Stifel Nicolaus set a $43.00 target price on shares of LTC Properties and gave the stock a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, August 14th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $46.00 target price (up previously from $45.00) on shares of LTC Properties in a research note on Thursday, August 9th. Finally, ValuEngine raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.50.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.98. The company had revenue of $33.93 million for the quarter, compared to analyst estimates of $34.55 million. LTC Properties had a net margin of 77.94% and a return on equity of 16.84%. Sell-side analysts forecast that LTC Properties Inc will post 3.01 EPS for the current year.
The firm also recently declared a oct 18 dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 23rd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, October 22nd. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.
About LTC Properties
LTC Properties (NYSE: LTC) is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including preferred equity and mezzanine lending. At June 30, 2018, LTC had 199 investments located in 28 states comprising 102 assisted living communities, 96 skilled nursing centers and one behavioral health care hospital.
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