LTC Properties Inc (LTC) Holdings Reduced by D.A. Davidson & CO.
D.A. Davidson & CO. cut its holdings in shares of LTC Properties Inc (NYSE:LTC) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,482 shares of the real estate investment trust’s stock after selling 3,248 shares during the quarter. D.A. Davidson & CO.’s holdings in LTC Properties were worth $790,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of LTC Properties by 1,381.5% during the fourth quarter. Renaissance Technologies LLC now owns 120,000 shares of the real estate investment trust’s stock worth $5,226,000 after purchasing an additional 111,900 shares during the period. Jane Street Group LLC acquired a new stake in shares of LTC Properties during the fourth quarter worth approximately $212,000. Macquarie Group Ltd. boosted its holdings in shares of LTC Properties by 18.3% during the fourth quarter. Macquarie Group Ltd. now owns 16,125 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 2,500 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of LTC Properties by 21.5% during the first quarter. Wells Fargo & Company MN now owns 171,196 shares of the real estate investment trust’s stock worth $6,505,000 after purchasing an additional 30,272 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of LTC Properties by 11.2% during the first quarter. Rhumbline Advisers now owns 130,124 shares of the real estate investment trust’s stock worth $4,945,000 after purchasing an additional 13,153 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on LTC shares. Cantor Fitzgerald restated an “overweight” rating on shares of LTC Properties in a report on Wednesday, May 16th. Stifel Nicolaus set a $43.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of LTC Properties from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday. ValuEngine lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, TheStreet raised shares of LTC Properties from a “c+” rating to a “b-” rating in a research report on Thursday, June 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $43.57.
LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $1.73 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.98. The firm had revenue of $33.93 million for the quarter, compared to analyst estimates of $34.55 million. LTC Properties had a net margin of 77.94% and a return on equity of 16.84%. analysts predict that LTC Properties Inc will post 3.01 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Wednesday, September 19th. LTC Properties’s payout ratio is presently 73.55%.
LTC Properties Company Profile
LTC is a self-administered real estate investment trust that primarily invests in seniors housing and health care properties primarily through sale-leaseback transactions, mortgage financing and structured finance solutions including mezzanine lending. At March 31, 2018, LTC had 203 investments located in 29 states comprising 105 assisted living communities, 97 skilled nursing centers and a behavioral health care hospital.
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