Invesco Ltd. decreased its stake in LTC Properties Inc (NYSE:LTC) by 9.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 530,215 shares of the real estate investment trust’s stock after selling 53,614 shares during the quarter. Invesco Ltd. owned about 1.35% of LTC Properties worth $16,383,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP lifted its stake in shares of LTC Properties by 742.9% during the 4th quarter. Quantbot Technologies LP now owns 649 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 572 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of LTC Properties during the 1st quarter worth approximately $39,000. Sound Income Strategies LLC lifted its stake in shares of LTC Properties by 1,173.5% during the 1st quarter. Sound Income Strategies LLC now owns 1,439 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 1,326 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of LTC Properties by 12.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,828 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 315 shares during the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in LTC Properties during the 1st quarter valued at $201,000. 75.68% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on LTC. Mizuho decreased their target price on LTC Properties from $46.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. BMO Capital Markets reaffirmed a “sell” rating and set a $37.00 target price on shares of LTC Properties in a research report on Monday, May 4th. JMP Securities began coverage on LTC Properties in a research report on Monday, June 8th. They set a “market perform” rating for the company. Wells Fargo & Co lifted their target price on LTC Properties from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, June 19th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and set a $32.00 target price on shares of LTC Properties in a research report on Sunday, May 17th. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. LTC Properties has a consensus rating of “Hold” and a consensus price target of $35.13.
LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.21. The firm had revenue of $38.04 million during the quarter, compared to analyst estimates of $37.15 million. LTC Properties had a return on equity of 15.60% and a net margin of 66.42%. On average, equities research analysts forecast that LTC Properties Inc will post 2.89 EPS for the current year.
The firm also recently declared a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.19 dividend. The ex-dividend date was Friday, June 19th. This represents a $2.28 dividend on an annualized basis and a yield of 6.10%. LTC Properties’s payout ratio is 74.03%.
LTC Properties Company Profile
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.
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