Maryland State Retirement & Pension System Raises Position in LTC Properties, Inc. (NYSE:LTC)

Maryland State Retirement & Pension System lifted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,242 shares of the real estate investment trust’s stock after buying an additional 556 shares during the period. Maryland State Retirement & Pension System’s holdings in LTC Properties were worth $527,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Strategic Financial Concepts LLC boosted its holdings in LTC Properties by 3,358.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after acquiring an additional 638,999 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in LTC Properties by 312.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock worth $12,187,000 after purchasing an additional 251,609 shares during the last quarter. State Street Corp grew its position in LTC Properties by 5.8% in the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock worth $121,262,000 after purchasing an additional 181,973 shares in the last quarter. JPMorgan Chase & Co. increased its stake in LTC Properties by 80.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock valued at $9,312,000 after buying an additional 113,100 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of LTC Properties by 33.1% during the 3rd quarter. Two Sigma Advisers LP now owns 313,100 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 77,900 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LTC shares. Wells Fargo & Company reduced their target price on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Tuesday, January 7th.

LTC Properties Price Performance

Shares of NYSE LTC opened at $35.07 on Tuesday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a fifty day simple moving average of $34.85 and a two-hundred day simple moving average of $36.01. LTC Properties, Inc. has a 1-year low of $31.14 and a 1-year high of $39.89. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 15.05 and a beta of 0.96.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. Analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently declared a jan 25 dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be given a $0.19 dividend. This represents a dividend yield of 6.45%. The ex-dividend date is Friday, March 21st. LTC Properties’s dividend payout ratio (DPR) is currently 111.22%.

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.