Vanguard Group Inc. Boosts Stake in LTC Properties, Inc. (NYSE:LTC)

Vanguard Group Inc. grew its stake in LTC Properties, Inc. (NYSE:LTCFree Report) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,643,807 shares of the real estate investment trust’s stock after purchasing an additional 8,591 shares during the quarter. Vanguard Group Inc. owned approximately 16.04% of LTC Properties worth $213,466,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of LTC Properties by 27.2% in the first quarter. State Street Corp now owns 3,533,890 shares of the real estate investment trust’s stock valued at $135,949,000 after acquiring an additional 755,055 shares in the last quarter. Norges Bank acquired a new stake in shares of LTC Properties in the 4th quarter valued at $14,137,000. Wellington Management Group LLP acquired a new stake in shares of LTC Properties in the 1st quarter valued at $10,505,000. Weiss Multi Strategy Advisers LLC acquired a new stake in shares of LTC Properties in the 1st quarter valued at $9,948,000. Finally, Envestnet Asset Management Inc. raised its holdings in LTC Properties by 1,438.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 219,251 shares of the real estate investment trust’s stock worth $447,000 after acquiring an additional 204,996 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of LTC Properties in a report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, LTC Properties presently has a consensus rating of “Hold” and an average target price of $34.33.

Read Our Latest Report on LTC Properties

LTC Properties Stock Performance

NYSE LTC opened at $32.51 on Friday. The stock has a market cap of $1.40 billion, a P/E ratio of 15.05 and a beta of 0.87. The company’s 50-day simple moving average is $31.78 and its 200 day simple moving average is $32.08. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $35.72. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97.

LTC Properties Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 23rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, January 22nd. This represents a yield of 7.11%. LTC Properties’s payout ratio is currently 105.56%.

LTC Properties Profile

(Free Report)

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.

Further Reading

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

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