Avantax Advisory Services Inc. Purchases New Holdings in LTC Properties, Inc. (NYSE:LTC)

Avantax Advisory Services Inc. purchased a new stake in LTC Properties, Inc. (NYSE:LTCGet Rating) during the 1st quarter, Holdings Channel.com reports. The fund purchased 5,280 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in LTC Properties by 8.3% during the 4th quarter. State Street Corp now owns 2,778,835 shares of the real estate investment trust’s stock worth $94,869,000 after purchasing an additional 213,028 shares during the period. Invesco Ltd. increased its position in LTC Properties by 10.7% during the 4th quarter. Invesco Ltd. now owns 913,638 shares of the real estate investment trust’s stock worth $31,191,000 after purchasing an additional 88,222 shares during the period. Hill Winds Capital LP acquired a new position in LTC Properties during the 4th quarter worth approximately $2,134,000. Asset Management One Co. Ltd. increased its position in LTC Properties by 41.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 152,912 shares of the real estate investment trust’s stock worth $5,197,000 after purchasing an additional 44,912 shares during the period. Finally, JPMorgan Chase & Co. increased its position in LTC Properties by 15.7% during the 4th quarter. JPMorgan Chase & Co. now owns 327,568 shares of the real estate investment trust’s stock worth $11,182,000 after purchasing an additional 44,375 shares during the period. Institutional investors and hedge funds own 72.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LTC shares. Barclays initiated coverage on LTC Properties in a research report on Tuesday, April 26th. They set an “underweight” rating and a $30.00 target price on the stock. Credit Suisse Group boosted their price target on LTC Properties from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, April 1st. BMO Capital Markets raised LTC Properties from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $37.00 to $40.00 in a research note on Tuesday, June 21st. Capital One Financial initiated coverage on LTC Properties in a research note on Friday, June 3rd. They set an “equal weight” rating and a $41.00 price target on the stock. Finally, KeyCorp boosted their price target on LTC Properties from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.00.

LTC Properties Price Performance

LTC stock opened at $39.02 on Friday. LTC Properties, Inc. has a 1 year low of $31.36 and a 1 year high of $40.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 15.55 and a current ratio of 15.55. The stock’s 50 day moving average price is $38.28 and its 200 day moving average price is $36.46. The firm has a market cap of $1.54 billion, a P/E ratio of 27.48 and a beta of 0.90.

LTC Properties (NYSE:LTCGet Rating) last posted its earnings results on Thursday, April 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.26). LTC Properties had a net margin of 36.03% and a return on equity of 7.48%. The company had revenue of $40.80 million during the quarter, compared to analysts’ expectations of $37.08 million. During the same period in the previous year, the company posted $0.62 EPS. LTC Properties’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts expect that LTC Properties, Inc. will post 2.55 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Wednesday, September 21st. LTC Properties’s dividend payout ratio is presently 160.56%.

About LTC Properties

(Get Rating)

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

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:LTCGet Rating).

Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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