LPL Financial LLC Increases Position in LTC Properties, Inc. (NYSE:LTC)

LPL Financial LLC lifted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,361 shares of the real estate investment trust’s stock after purchasing an additional 1,958 shares during the period. LPL Financial LLC’s holdings in LTC Properties were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LTC. Geode Capital Management LLC lifted its holdings in LTC Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock worth $41,284,000 after purchasing an additional 8,351 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in LTC Properties by 6.1% during the 4th quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust’s stock valued at $33,260,000 after buying an additional 55,254 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of LTC Properties by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 822,724 shares of the real estate investment trust’s stock valued at $28,425,000 after buying an additional 68,212 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of LTC Properties by 3,358.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after buying an additional 638,999 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of LTC Properties by 80.4% during the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock worth $9,312,000 after acquiring an additional 113,100 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. 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 research note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th.

LTC Properties Stock Up 1.1 %

Shares of LTC Properties stock opened at $35.33 on Thursday. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.62 billion, a P/E ratio of 15.16 and a beta of 0.74. The firm’s 50 day moving average price is $34.83 and its 200-day moving average price is $35.72. LTC Properties, Inc. has a 52-week low of $31.24 and a 52-week high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (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 the consensus estimate of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. On average, sell-side analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 6.45%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties’s dividend payout ratio is currently 111.22%.

About LTC Properties

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.