Rhumbline Advisers Has $5.82 Million Stock Position in LTC Properties, Inc. (NYSE:LTC)

Rhumbline Advisers boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 151,590 shares of the real estate investment trust’s stock after buying an additional 793 shares during the period. Rhumbline Advisers’ holdings in LTC Properties were worth $5,820,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LTC. Wealthcare Advisory Partners LLC acquired a new stake in LTC Properties during the 1st quarter worth approximately $36,000. Daiwa Securities Group Inc. grew its stake in shares of LTC Properties by 13.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,878 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 1,200 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of LTC Properties by 9.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,262 shares of the real estate investment trust’s stock worth $553,000 after acquiring an additional 1,123 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of LTC Properties by 21.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 49,469 shares of the real estate investment trust’s stock worth $2,064,000 after acquiring an additional 8,829 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of LTC Properties by 9.3% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,813 shares of the real estate investment trust’s stock worth $576,000 after acquiring an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 72.56% of the company’s stock.

NYSE:LTC opened at $33.62 on Wednesday. LTC Properties, Inc. has a 1-year low of $32.01 and a 1-year high of $44.73. The company has a current ratio of 9.45, a quick ratio of 9.45 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $39.47. The stock has a market capitalization of $1.32 billion, a PE ratio of 21.41 and a beta of 0.95.

LTC Properties (NYSE:LTC) last released its earnings results on Thursday, July 29th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). LTC Properties had a net margin of 37.80% and a return on equity of 7.99%. On average, equities analysts predict that LTC Properties, Inc. will post 2.36 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.78%. LTC Properties’s dividend payout ratio is presently 94.61%.

Several equities analysts have recently weighed in on LTC shares. Royal Bank of Canada decreased their price target on shares of LTC Properties from $38.00 to $37.00 and set an “underperform” rating for the company in a research note on Tuesday, July 27th. Zacks Investment Research cut shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, July 31st. Finally, Mizuho cut shares of LTC Properties from a “neutral” rating to an “underperform” rating and set a $35.00 price target for the company. in a research note on Thursday, June 3rd. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $38.67.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. Its property portfolio includes skilled nursing facilities, assisted living facilities, independent living facilities, and memory care facilities. The company was founded by Andre C.

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

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