Corebridge Financial Inc. Has $828,000 Holdings in LTC Properties, Inc. $LTC

Corebridge Financial Inc. cut its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 1.9% during the 1st quarter, Holdings Channel reports. The fund owned 23,368 shares of the real estate investment trust’s stock after selling 460 shares during the period. Corebridge Financial Inc.’s holdings in LTC Properties were worth $828,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Keudell Morrison Wealth Management increased its stake in shares of LTC Properties by 0.9% in the first quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust’s stock worth $1,301,000 after purchasing an additional 328 shares in the last quarter. Arizona State Retirement System increased its stake in shares of LTC Properties by 2.9% in the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust’s stock worth $460,000 after buying an additional 360 shares during the period. BNP Paribas Financial Markets increased its stake in shares of LTC Properties by 4.1% in the fourth quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust’s stock worth $342,000 after buying an additional 392 shares during the period. Denali Advisors LLC increased its position in LTC Properties by 1.6% during the 1st quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust’s stock valued at $1,156,000 after purchasing an additional 522 shares during the period. Finally, Groupe la Francaise grew its position in shares of LTC Properties by 3.8% in the 1st quarter. Groupe la Francaise now owns 16,219 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 601 shares during the period. 69.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. Royal Bank Of Canada boosted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. JMP Securities lifted their price objective on shares of LTC Properties from $40.00 to $43.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Wedbush raised shares of LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, LTC Properties currently has a consensus rating of “Buy” and a consensus target price of $39.25.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president directly owned 15,626 shares of the company’s stock, valued at $542,378.46. This trade represents a 62.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

LTC Properties Price Performance

Shares of NYSE LTC opened at $36.59 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 20.10 and a beta of 0.69. LTC Properties, Inc. has a 12 month low of $31.70 and a 12 month high of $39.89. The firm’s 50 day simple moving average is $35.50 and its 200-day simple moving average is $35.29.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $30.18 million for the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were paid a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Thursday, August 21st. LTC Properties’s dividend payout ratio is presently 125.27%.

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.