United Capital Financial Advisers LLC trimmed its position in LTC Properties Inc (NYSE:LTC) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,353 shares of the real estate investment trust’s stock after selling 1,715 shares during the quarter. United Capital Financial Advisers LLC’s holdings in LTC Properties were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of LTC Properties in the fourth quarter worth $212,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of LTC Properties in the fourth quarter worth $322,000. Profund Advisors LLC increased its stake in shares of LTC Properties by 32.0% in the first quarter. Profund Advisors LLC now owns 7,728 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 1,873 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of LTC Properties in the fourth quarter worth $597,000. Finally, 6 Meridian increased its stake in shares of LTC Properties by 27.8% in the first quarter. 6 Meridian now owns 15,392 shares of the real estate investment trust’s stock worth $585,000 after buying an additional 3,350 shares during the period. 79.42% of the stock is currently owned by institutional investors.
Several research analysts recently commented on LTC shares. Mizuho decreased their target price on shares of LTC Properties from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, March 5th. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Royal Bank of Canada set a $43.00 price objective on shares of LTC Properties and gave the company a “hold” rating in a research report on Tuesday, March 6th. BMO Capital Markets set a $39.00 price objective on shares of LTC Properties and gave the company a “sell” rating in a research report on Monday, March 26th. Finally, ValuEngine downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. LTC Properties has an average rating of “Hold” and a consensus target price of $42.86.
Shares of LTC Properties stock opened at $42.74 on Friday. The company has a current ratio of 9.69, a quick ratio of 9.69 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 3.55 and a beta of 0.16. LTC Properties Inc has a 12-month low of $34.46 and a 12-month high of $52.85.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Wednesday, May 9th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). The company had revenue of $41.81 million for the quarter, compared to analysts’ expectations of $34.17 million. LTC Properties had a net margin of 51.43% and a return on equity of 11.36%. During the same period in the previous year, the firm posted $0.54 earnings per share. analysts forecast that LTC Properties Inc will post 3.01 earnings per share for the current year.
The firm also recently announced a monthly dividend, which was paid on Friday, June 29th. Stockholders of record on Thursday, June 21st were issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date was Wednesday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 73.55%.
LTC Properties Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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