Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,498 shares of the real estate investment trust’s stock after buying an additional 1,138 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of LTC Properties worth $868,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LTC. Assetmark Inc. boosted its position in shares of LTC Properties by 5.6% in the first quarter. Assetmark Inc. now owns 13,944 shares of the real estate investment trust’s stock worth $494,000 after buying an additional 735 shares during the period. Cetera Investment Advisers boosted its holdings in LTC Properties by 67.6% in the 1st quarter. Cetera Investment Advisers now owns 22,105 shares of the real estate investment trust’s stock worth $784,000 after acquiring an additional 8,918 shares during the period. Montag A & Associates Inc. grew its position in LTC Properties by 72.5% in the first quarter. Montag A & Associates Inc. now owns 3,616 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 1,520 shares in the last quarter. Denali Advisors LLC grew its position in LTC Properties by 1.6% in the first quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust’s stock valued at $1,156,000 after acquiring an additional 522 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of LTC Properties by 8.0% during the first quarter. Apollon Wealth Management LLC now owns 22,488 shares of the real estate investment trust’s stock valued at $797,000 after purchasing an additional 1,665 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties Price Performance

NYSE LTC opened at $35.11 on Wednesday. The company has a 50-day moving average price of $35.06 and a two-hundred day moving average price of $35.03. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 19.29 and a beta of 0.66. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $30.18 million during the quarter, compared to analysts’ expectations of $49.97 million. LTC Properties had a return on equity of 7.94% and a net margin of 38.24%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 24th were given a $0.19 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a yield of 647.0%. LTC Properties’s payout ratio is 117.53%.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The shares were acquired at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the acquisition, the executive vice president directly owned 15,626 shares of the company’s stock, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

LTC has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of LTC Properties in a research note on Monday, May 19th. Wedbush raised LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $38.00.

About LTC Properties

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.