LTC Properties Inc (LTC) Holdings Reduced by State of Tennessee Treasury Department
State of Tennessee Treasury Department reduced its position in LTC Properties Inc (NYSE:LTC) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,088 shares of the real estate investment trust’s stock after selling 3,385 shares during the quarter. State of Tennessee Treasury Department’s holdings in LTC Properties were worth $1,354,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in LTC Properties in the 3rd quarter valued at about $139,000. Intrust Bank NA bought a new position in LTC Properties in the 3rd quarter valued at about $232,000. GSA Capital Partners LLP bought a new position in LTC Properties in the 3rd quarter valued at about $251,000. SG Americas Securities LLC increased its holdings in LTC Properties by 130.6% in the 3rd quarter. SG Americas Securities LLC now owns 6,308 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 3,573 shares during the period. Finally, Texas Yale Capital Corp. increased its holdings in LTC Properties by 27.0% in the 4th quarter. Texas Yale Capital Corp. now owns 7,173 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 1,527 shares during the period. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Timothy Triche sold 2,720 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $43.35, for a total value of $117,912.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Boyd W. Hendrickson sold 2,787 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $46.66, for a total transaction of $130,041.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,727 shares of company stock worth $436,470. 1.50% of the stock is currently owned by corporate insiders.
The business also recently declared a monthly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were paid a $0.19 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.79%. LTC Properties’s payout ratio is currently 103.64%.
Several equities analysts have commented on LTC shares. Zacks Investment Research raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, January 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $52.00 target price on shares of LTC Properties in a report on Thursday, March 1st. TheStreet lowered shares of LTC Properties from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Stifel Nicolaus set a $40.00 target price on shares of LTC Properties and gave the company a “hold” rating in a report on Thursday, March 1st. Finally, ValuEngine lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One 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 has an average rating of “Hold” and a consensus target price of $46.88.
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About LTC Properties
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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