Foundry Partners LLC lowered its stake in LTC Properties Inc. (NYSE:LTC) by 2.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 7,125 shares of the real estate investment trust’s stock after selling 215 shares during the period. Foundry Partners LLC’s holdings in LTC Properties were worth $370,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. James Investment Research Inc. acquired a new position in shares of LTC Properties during the second quarter valued at approximately $5,499,000. Independent Portfolio Consultants Inc. boosted its position in shares of LTC Properties by 56.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 12,860 shares of the real estate investment trust’s stock worth $665,000 after buying an additional 4,650 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of LTC Properties by 5.8% in the second quarter. Nisa Investment Advisors LLC now owns 100,800 shares of the real estate investment trust’s stock worth $5,214,000 after buying an additional 5,550 shares during the period. Eqis Capital Management Inc. boosted its position in shares of LTC Properties by 1.9% in the second quarter. Eqis Capital Management Inc. now owns 13,014 shares of the real estate investment trust’s stock worth $673,000 after buying an additional 247 shares during the period. Finally, Capital Analysts LLC boosted its position in shares of LTC Properties by 3,502.9% in the second quarter. Capital Analysts LLC now owns 36,569 shares of the real estate investment trust’s stock worth $2,824,000 after buying an additional 35,554 shares during the period. 83.95% of the stock is currently owned by institutional investors.
Shares of LTC Properties Inc. (NYSE:LTC) traded up 0.93% during mid-day trading on Friday, reaching $45.82. 59,057 shares of the company’s stock were exchanged. The firm has a market cap of $1.80 billion, a P/E ratio of 21.26 and a beta of 0.25. LTC Properties Inc. has a 52-week low of $40.55 and a 52-week high of $54.20. The company has a 50 day moving average price of $47.77 and a 200 day moving average price of $50.03.
LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. The company had revenue of $40.80 million for the quarter, compared to analysts’ expectations of $33.64 million. LTC Properties had a net margin of 52.34% and a return on equity of 11.71%. Analysts forecast that LTC Properties Inc. will post $3.05 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 22nd will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Friday, November 18th. LTC Properties’s payout ratio is currently 105.56%.
A number of brokerages recently issued reports on LTC. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Wednesday, August 3rd. Canaccord Genuity lifted their price objective on shares of LTC Properties from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Finally, Cantor Fitzgerald set a $55.00 price objective on shares of LTC Properties and gave the company a “buy” rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. LTC Properties currently has a consensus rating of “Hold” and a consensus price target of $53.33.
In related news, Director Timothy Triche sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $52.13, for a total transaction of $104,260.00. Following the sale, the director now directly owns 36,188 shares in the company, valued at approximately $1,886,480.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
About LTC Properties
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.