LTC Properties, Inc. (NYSE:LTC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in LTC Properties, Inc. (NYSE:LTC) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 23,828 shares of the real estate investment trust’s stock after selling 847 shares during the period. Corebridge Financial Inc.’s holdings in LTC Properties were worth $823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of LTC Properties by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,960,934 shares of the real estate investment trust’s stock valued at $240,500,000 after buying an additional 39,470 shares during the last quarter. Bridge City Capital LLC raised its holdings in LTC Properties by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust’s stock valued at $1,537,000 after acquiring an additional 391 shares in the last quarter. LPL Financial LLC grew its holdings in LTC Properties by 4.4% during the 4th quarter. LPL Financial LLC now owns 46,361 shares of the real estate investment trust’s stock worth $1,602,000 after acquiring an additional 1,958 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of LTC Properties in the 4th quarter valued at about $802,000. Finally, American Century Companies Inc. lifted its position in shares of LTC Properties by 3.4% during the fourth quarter. American Century Companies Inc. now owns 16,821 shares of the real estate investment trust’s stock worth $581,000 after purchasing an additional 550 shares during the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LTC. Wells Fargo & Company cut their price objective on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday, January 7th. Finally, Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th.

LTC Properties Stock Performance

LTC opened at $34.64 on Friday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The business’s 50 day moving average is $34.94 and its 200-day moving average is $35.91. The stock has a market cap of $1.57 billion, a PE ratio of 14.86 and a beta of 0.96. LTC Properties, Inc. has a twelve month low of $31.14 and a twelve month high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. The firm had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. On average, analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 111.22%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.