MetLife Investment Management LLC Reduces Stake in LTC Properties, Inc. $LTC

MetLife Investment Management LLC lowered its stake in LTC Properties, Inc. (NYSE:LTC) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,175 shares of the real estate investment trust’s stock after selling 382 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of LTC Properties worth $963,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in LTC Properties by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,000,767 shares of the real estate investment trust’s stock worth $248,177,000 after purchasing an additional 39,833 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock worth $33,653,000 after purchasing an additional 126,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in LTC Properties by 3.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 646,592 shares of the real estate investment trust’s stock worth $22,340,000 after purchasing an additional 19,486 shares during the last quarter. Northern Trust Corp lifted its stake in 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 worth $20,715,000 after purchasing an additional 103,482 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in LTC Properties by 0.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 333,977 shares of the real estate investment trust’s stock worth $11,539,000 after purchasing an additional 1,804 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

LTC Properties Stock Performance

LTC Properties stock opened at $36.59 on Friday. The company has a 50 day moving average price of $35.50 and a 200-day moving average price of $35.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89. The company has a market capitalization of $1.69 billion, a PE ratio of 20.10 and a beta of 0.69.

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

LTC Properties Dividend Announcement

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

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.