LTC Properties, Inc. (NYSE:LTC) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in LTC Properties, Inc. (NYSE:LTC – Get Rating) by 42.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 59,790 shares of the real estate investment trust’s stock after acquiring an additional 17,919 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of LTC Properties worth $2,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LTC. SRS Capital Advisors Inc. purchased a new position in shares of LTC Properties in the 3rd quarter valued at about $39,000. Quadrant Capital Group LLC increased its holdings in shares of LTC Properties by 282.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 773 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of LTC Properties in the 2nd quarter valued at about $41,000. Rockefeller Capital Management L.P. increased its holdings in shares of LTC Properties by 1,831.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,047 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 1,941 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of LTC Properties by 59.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,340 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 869 shares during the last quarter. Hedge funds and other institutional investors own 72.68% of the company’s stock.

LTC Properties Stock Down 1.3 %

LTC Properties stock opened at $32.64 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 17.30 and a quick ratio of 17.30. LTC Properties, Inc. has a 1-year low of $31.90 and a 1-year high of $45.49. The company has a market cap of $1.35 billion, a PE ratio of 11.18 and a beta of 0.95. The stock’s 50 day moving average price is $33.79 and its 200 day moving average price is $36.18.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 22nd will be paid a $0.19 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.99%. LTC Properties’s dividend payout ratio (DPR) is presently 78.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays dropped their price objective on LTC Properties from $35.00 to $34.00 in a report on Wednesday, May 3rd. Wells Fargo & Company assumed coverage on LTC Properties in a research note on Wednesday, April 19th. They set an “equal weight” rating and a $36.00 price target on the stock. Royal Bank of Canada raised their price target on LTC Properties from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. VNET Group restated a “maintains” rating on shares of LTC Properties in a research note on Wednesday, May 3rd. Finally, StockNews.com began coverage on LTC Properties in a research note on Thursday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, LTC Properties currently has a consensus rating of “Hold” and an average price target of $38.89.

About LTC Properties

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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.