IFP Advisors Inc lessened its holdings in LTC Properties Inc (NYSE:LTC) by 56.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,087 shares of the real estate investment trust’s stock after selling 5,377 shares during the quarter. IFP Advisors Inc’s holdings in LTC Properties were worth $178,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in LTC Properties by 12.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,037 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 231 shares during the period. Quantbot Technologies LP bought a new stake in LTC Properties in the 3rd quarter valued at $139,000. Ameritas Investment Partners Inc. increased its holdings in LTC Properties by 6.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,456 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 200 shares during the period. Shelton Capital Management bought a new stake in LTC Properties in the 2nd quarter valued at $202,000. Finally, Intrust Bank NA bought a new stake in LTC Properties in the 3rd quarter valued at $232,000. 77.94% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on LTC. Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price target on shares of LTC Properties in a report on Monday, October 23rd. BMO Capital Markets reissued a “sell” rating and issued a $44.00 price target on shares of LTC Properties in a report on Wednesday, October 18th. KeyCorp reissued a “hold” rating on shares of LTC Properties in a report on Tuesday, October 17th. Finally, ValuEngine downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.71.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.26. The business had revenue of $41.25 million for the quarter, compared to the consensus estimate of $32.91 million. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. During the same quarter in the prior year, the company earned $0.57 EPS. sell-side analysts expect that LTC Properties Inc will post 3.08 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, February 16th. This represents a $2.28 annualized dividend and a yield of 5.92%. LTC Properties’s dividend payout ratio (DPR) is 102.24%.
In related news, Director Boyd W. Hendrickson sold 2,787 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $46.66, for a total transaction of $130,041.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy Triche sold 2,720 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $43.35, for a total transaction of $117,912.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,727 shares of company stock worth $436,470. 1.50% of the stock is owned by corporate insiders.
LTC Properties Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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