Royal Bank of Canada lowered its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,091,191 shares of the real estate investment trust’s stock after selling 246,327 shares during the quarter. Royal Bank of Canada owned about 2.76% of LTC Properties worth $56,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. People s United Financial Inc. grew its holdings in shares of LTC Properties by 0.9% during the second quarter. People s United Financial Inc. now owns 17,639 shares of the real estate investment trust’s stock worth $907,000 after buying an additional 150 shares during the last quarter. QS Investors LLC grew its holdings in shares of LTC Properties by 38.5% during the second quarter. QS Investors LLC now owns 13,607 shares of the real estate investment trust’s stock worth $699,000 after buying an additional 3,781 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of LTC Properties by 11.8% during the second quarter. Stifel Financial Corp now owns 12,377 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 1,309 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of LTC Properties by 18.5% during the second quarter. Voya Investment Management LLC now owns 18,375 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 2,864 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its holdings in shares of LTC Properties by 17.0% during the second quarter. OxFORD Asset Management LLP now owns 40,694 shares of the real estate investment trust’s stock worth $2,091,000 after buying an additional 5,914 shares during the last quarter. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

LTC has been the topic of a number of research reports. Royal Bank Of Canada reissued a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Tuesday, June 27th. Mizuho reissued a “neutral” rating on shares of LTC Properties in a report on Wednesday, June 28th. BidaskClub raised LTC Properties from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Stifel Nicolaus reissued a “hold” rating and set a $50.00 price target on shares of LTC Properties in a report on Friday, July 28th. Finally, Zacks Investment Research lowered LTC Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. LTC Properties presently has a consensus rating of “Hold” and an average price target of $50.50.

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LTC Properties, Inc. (NYSE LTC) remained flat at $47.00 during trading on Thursday. The stock had a trading volume of 15,482 shares. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $52.85. The firm has a market cap of $1.86 billion, a P/E ratio of 20.66 and a beta of 0.16. The firm has a 50 day moving average of $47.91 and a 200 day moving average of $48.84.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. Analysts anticipate that LTC Properties, Inc. will post $2.18 earnings per share for the current year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.28 annualized dividend and a yield of 4.85%. LTC Properties’s dividend payout ratio (DPR) is 100.00%.

LTC Properties Company Profile

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

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Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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