First Republic Investment Management Inc. lowered its stake in shares of LTC Properties Inc (NYSE:LTC) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,864 shares of the real estate investment trust’s stock after selling 1,074 shares during the quarter. First Republic Investment Management Inc.’s holdings in LTC Properties were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in LTC Properties by 10.3% in the second quarter. JPMorgan Chase & Co. now owns 71,095 shares of the real estate investment trust’s stock worth $3,193,000 after acquiring an additional 6,638 shares during the period. Redpoint Investment Management Pty Ltd purchased a new stake in shares of LTC Properties in the second quarter worth $317,000. Wells Fargo & Company MN increased its stake in shares of LTC Properties by 6.9% in the second quarter. Wells Fargo & Company MN now owns 200,081 shares of the real estate investment trust’s stock worth $9,137,000 after purchasing an additional 12,863 shares in the last quarter. Jennison Associates LLC increased its stake in shares of LTC Properties by 26.6% in the second quarter. Jennison Associates LLC now owns 40,033 shares of the real estate investment trust’s stock worth $1,828,000 after purchasing an additional 8,417 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in LTC Properties by 2.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 27,218 shares of the real estate investment trust’s stock valued at $1,243,000 after acquiring an additional 740 shares in the last quarter. Institutional investors own 75.74% of the company’s stock.
In related news, CEO Wendy Simpson sold 7,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $49.20, for a total transaction of $344,400.00. Following the completion of the sale, the chief executive officer now directly owns 379,365 shares of the company’s stock, valued at $18,664,758. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy Triche sold 2,800 shares of the stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $46.15, for a total value of $129,220.00. Following the sale, the director now directly owns 36,362 shares of the company’s stock, valued at $1,678,106.30. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
NYSE LTC traded down $0.52 during trading hours on Friday, reaching $49.19. The company had a trading volume of 191,729 shares, compared to its average volume of 193,340. The stock has a market capitalization of $1.96 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 4.03 and a beta of 0.39. LTC Properties Inc has a 1-year low of $40.11 and a 1-year high of $50.52. The company has a current ratio of 9.57, a quick ratio of 9.57 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $48.07 and a 200 day moving average of $46.12.
LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.25). The business had revenue of $38.28 million for the quarter, compared to analyst estimates of $30.54 million. LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. As a group, sell-side analysts predict that LTC Properties Inc will post 3.06 EPS for the current year.
The company also recently announced a dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.19 dividend. The ex-dividend date is Thursday, September 19th. LTC Properties’s dividend payout ratio (DPR) is 74.51%.
Several equities analysts have commented on the stock. Credit Suisse Group assumed coverage on shares of LTC Properties in a research report on Wednesday, July 10th. They set an “underperform” rating and a $19.00 price objective for the company. Zacks Investment Research downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Berenberg Bank assumed coverage on shares of LTC Properties in a research report on Thursday. They set a “hold” rating and a $49.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $40.20.
LTC Properties Company Profile
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 holds more than 200 investments in 28 states with 30 operating partners.
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