LTC Properties, Inc. (LTC) Position Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. cut its stake in LTC Properties, Inc. (NYSE:LTC) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,035 shares of the real estate investment trust’s stock after selling 46,716 shares during the period. Ameriprise Financial Inc.’s holdings in LTC Properties were worth $15,547,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LTC. Stevens Capital Management LP acquired a new position in LTC Properties during the third quarter valued at $369,000. Municipal Employees Retirement System of Michigan increased its position in LTC Properties by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,410 shares of the real estate investment trust’s stock valued at $437,000 after buying an additional 140 shares during the last quarter. BlackRock Group LTD increased its position in LTC Properties by 7.0% in the third quarter. BlackRock Group LTD now owns 300,676 shares of the real estate investment trust’s stock valued at $15,633,000 after buying an additional 19,753 shares during the last quarter. Rhumbline Advisers increased its position in LTC Properties by 3.8% in the third quarter. Rhumbline Advisers now owns 73,485 shares of the real estate investment trust’s stock valued at $3,820,000 after buying an additional 2,704 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in LTC Properties by 5.1% in the third quarter. Teachers Advisors LLC now owns 71,680 shares of the real estate investment trust’s stock valued at $3,727,000 after buying an additional 3,451 shares during the last quarter. Institutional investors and hedge funds own 84.93% of the company’s stock.
Shares of LTC Properties, Inc. (NYSE:LTC) opened at 47.00 on Friday. LTC Properties, Inc. has a one year low of $40.55 and a one year high of $54.20. The stock has a market capitalization of $1.84 billion, a PE ratio of 21.81 and a beta of 0.21. The stock’s 50 day moving average price is $46.41 and its 200 day moving average price is $49.66.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. LTC Properties had a return on equity of 11.71% and a net margin of 52.34%. The firm earned $40.80 million during the quarter, compared to analysts’ expectations of $33.64 million. Equities research analysts predict that LTC Properties, Inc. will post $2.21 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, March 31st. Investors of record on Thursday, March 23rd will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Tuesday, March 21st. LTC Properties’s dividend payout ratio is currently 105.56%.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of LTC Properties in a research note on Thursday, January 5th. RBC Capital Markets set a $50.00 price target on LTC Properties and gave the stock a “hold” rating in a research note on Tuesday, January 3rd. Finally, Cantor Fitzgerald set a $55.00 price target on LTC Properties and gave the stock a “buy” rating in a research note on Friday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. LTC Properties has an average rating of “Hold” and a consensus price target of $52.86.
LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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