Y Intercept Hong Kong Ltd Sells 6,603 Shares of LTC Properties, Inc. (NYSE:LTC)

Y Intercept Hong Kong Ltd reduced its position in shares of LTC Properties, Inc. (NYSE:LTC) by 51.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,157 shares of the real estate investment trust’s stock after selling 6,603 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in LTC Properties were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of LTC Properties by 37.3% in the fourth quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust’s stock valued at $19,082,000 after purchasing an additional 150,023 shares during the last quarter. Norges Bank acquired a new position in shares of LTC Properties in the fourth quarter valued at $5,000,000. Northern Trust Corp grew its stake in shares of LTC Properties by 20.9% in the fourth quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust’s stock valued at $20,715,000 after acquiring an additional 103,482 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of LTC Properties by 69.3% in the fourth quarter. Renaissance Technologies LLC now owns 207,700 shares of the real estate investment trust’s stock valued at $7,176,000 after acquiring an additional 85,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of LTC Properties by 3,445.0% in the first quarter. GAMMA Investing LLC now owns 86,604 shares of the real estate investment trust’s stock valued at $3,070,000 after acquiring an additional 84,161 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LTC has been the topic of several research reports. Wedbush upgraded shares of LTC Properties to a “strong-buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $36.00 price target on shares of LTC Properties in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $38.00.

Insider Activity at LTC Properties

In related news, EVP David M. Boitano bought 6,000 shares of the company’s stock in a transaction dated Friday, June 27th. The stock was purchased at an average price of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president owned 15,626 shares of the company’s stock, valued at $542,378.46. The trade was a 62.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

LTC Properties Stock Down 1.4%

LTC stock opened at $34.20 on Thursday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 17.63 and a beta of 0.65. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65. LTC Properties, Inc. has a 12 month low of $31.70 and a 12 month high of $39.89. The firm has a 50-day moving average price of $35.12 and a 200-day moving average price of $35.03.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. As a group, equities research analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 24th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a dividend yield of 6.47%. LTC Properties’s dividend payout ratio (DPR) is currently 117.53%.

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.