Fmr LLC Sells 2,275 Shares of LTC Properties, Inc. (NYSE:LTC)

FMR LLC decreased its position in LTC Properties, Inc. (NYSE:LTC) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,032 shares of the real estate investment trust’s stock after selling 2,275 shares during the period. FMR LLC’s holdings in LTC Properties were worth $672,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. IFC Holdings Incorporated FL raised its stake in LTC Properties by 1.2% in the first quarter. IFC Holdings Incorporated FL now owns 5,759 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 66 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in LTC Properties by 12.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,266 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 256 shares during the period. Louisiana State Employees Retirement System raised its position in LTC Properties by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 300 shares during the period. Arizona State Retirement System raised its position in LTC Properties by 2.0% in the first quarter. Arizona State Retirement System now owns 20,596 shares of the real estate investment trust’s stock valued at $987,000 after buying an additional 400 shares during the period. Finally, Bank of Montreal Can raised its position in LTC Properties by 1.2% in the first quarter. Bank of Montreal Can now owns 35,035 shares of the real estate investment trust’s stock valued at $1,678,000 after buying an additional 406 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties, Inc. (NYSE:LTC) opened at 47.11 on Friday. The firm has a 50-day moving average of $50.26 and a 200 day moving average of $48.51. The firm has a market cap of $1.86 billion, a P/E ratio of 20.71 and a beta of 0.12. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $54.20.

LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $42.47 million during the quarter, compared to the consensus estimate of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. On average, analysts predict that LTC Properties, Inc. will post $2.18 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 23rd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s payout ratio is currently 100.00%.

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LTC has been the topic of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $50.00 target price on shares of LTC Properties in a report on Tuesday, May 9th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 target price (down previously from $51.00) on shares of LTC Properties in a report on Tuesday, May 9th. Canaccord Genuity reissued a “buy” rating and issued a $58.00 target price on shares of LTC Properties in a report on Tuesday, May 9th. Hilliard Lyons raised LTC Properties from an “underperform” rating to a “neutral” rating in a report on Wednesday, May 10th. Finally, Zacks Investment Research raised LTC Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.60.

LTC Properties Company 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).

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

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