BlackRock Inc. cut its position in LTC Properties Inc (NYSE:LTC) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,049,454 shares of the real estate investment trust’s stock after selling 21,517 shares during the quarter. BlackRock Inc. owned about 0.15% of LTC Properties worth $263,452,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Schroder Investment Management Group grew its stake in shares of LTC Properties by 5.2% in the fourth quarter. Schroder Investment Management Group now owns 93,463 shares of the real estate investment trust’s stock valued at $4,070,000 after buying an additional 4,631 shares in the last quarter. Rhumbline Advisers grew its stake in shares of LTC Properties by 12.6% in the fourth quarter. Rhumbline Advisers now owns 116,971 shares of the real estate investment trust’s stock valued at $5,094,000 after buying an additional 13,120 shares in the last quarter. Arizona State Retirement System boosted its position in LTC Properties by 224.5% during the fourth quarter. Arizona State Retirement System now owns 66,509 shares of the real estate investment trust’s stock worth $2,896,000 after purchasing an additional 46,013 shares during the period. Capital Fund Management S.A. bought a new position in LTC Properties during the fourth quarter worth $348,000. Finally, Wells Fargo & Company MN boosted its position in LTC Properties by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 140,924 shares of the real estate investment trust’s stock worth $6,137,000 after purchasing an additional 24,226 shares during the period. 79.02% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. ValuEngine cut shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Stifel Nicolaus set a $40.00 price objective on shares of LTC Properties and gave the stock a “hold” rating in a research report on Thursday, March 1st. Mizuho reduced their price objective on shares of LTC Properties from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, March 5th. TheStreet cut shares of LTC Properties from a “b-” rating to a “c+” rating in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $52.00 price objective on shares of LTC Properties in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.88.
Shares of LTC Properties Inc (LTC) opened at $39.38 on Monday. The stock has a market cap of $1,560.00, a PE ratio of 17.90, a PEG ratio of 3.20 and a beta of 0.17. LTC Properties Inc has a 52-week low of $36.90 and a 52-week high of $52.85. The company has a debt-to-equity ratio of 0.88, a current ratio of 8.25 and a quick ratio of 8.25.
The firm also recently announced a monthly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.79%. LTC Properties’s payout ratio is presently 103.64%.
LTC Properties 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).
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