Russell Investments Group Ltd. Sells 14,739 Shares of LTC Properties Inc (LTC)
Russell Investments Group Ltd. reduced its holdings in shares of LTC Properties Inc (NYSE:LTC) by 78.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,013 shares of the real estate investment trust’s stock after selling 14,739 shares during the period. Russell Investments Group Ltd.’s holdings in LTC Properties were worth $189,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in LTC. Uniplan Investment Counsel Inc. increased its stake in LTC Properties by 89.0% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock worth $36,538,000 after buying an additional 623,870 shares during the period. Koch Industries Inc. purchased a new stake in LTC Properties during the 2nd quarter worth approximately $362,000. Janus Henderson Group PLC purchased a new stake in LTC Properties during the 2nd quarter worth approximately $8,975,000. Crossmark Global Holdings Inc. purchased a new stake in LTC Properties during the 3rd quarter worth approximately $5,262,000. Finally, Victory Capital Management Inc. increased its stake in LTC Properties by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,061,481 shares of the real estate investment trust’s stock worth $49,869,000 after buying an additional 76,325 shares during the period. 77.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Timothy Triche sold 2,720 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $43.35, for a total value of $117,912.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Boyd W. Hendrickson sold 1,500 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $47.07, for a total transaction of $70,605.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,727 shares of company stock valued at $436,470. Company insiders own 1.50% of the company’s stock.
Shares of LTC Properties Inc (NYSE:LTC) opened at $42.76 on Tuesday. LTC Properties Inc has a 52-week low of $42.37 and a 52-week high of $52.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 8.66 and a quick ratio of 8.66. The company has a market cap of $1,690.00, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 3.40 and a beta of 0.18.
LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Wednesday, November 8th. The real estate investment trust reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.26. LTC Properties had a net margin of 52.18% and a return on equity of 11.69%. The company had revenue of $41.25 million for the quarter, compared to the consensus estimate of $32.91 million. During the same period in the prior year, the firm posted $0.57 EPS. equities research analysts anticipate that LTC Properties Inc will post 3.08 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, February 16th. LTC Properties’s payout ratio is 102.70%.
LTC has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. BMO Capital Markets reissued a “sell” rating and issued a $44.00 price objective on shares of LTC Properties in a research report on Wednesday, October 18th. ValuEngine downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. KeyCorp reissued a “hold” rating on shares of LTC Properties in a research report on Sunday, September 17th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price objective on shares of LTC Properties in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. LTC Properties has an average rating of “Hold” and an average target price of $50.17.
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About LTC Properties
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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