Raymond James & Associates Trims Stock Position in LTC Properties, Inc. (NYSE:LTC)

Raymond James & Associates lessened its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 16.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,446 shares of the real estate investment trust’s stock after selling 2,966 shares during the period. Raymond James & Associates’ holdings in LTC Properties were worth $496,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of LTC Properties in the 3rd quarter worth $51,000. Versor Investments LP purchased a new stake in LTC Properties in the third quarter worth about $260,000. abrdn plc lifted its stake in LTC Properties by 4.7% in the third quarter. abrdn plc now owns 8,295 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 369 shares during the period. Sigma Planning Corp grew its holdings in LTC Properties by 4.0% during the 3rd quarter. Sigma Planning Corp now owns 8,470 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 327 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in LTC Properties by 5.3% during the 3rd quarter. UniSuper Management Pty Ltd now owns 11,900 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $34.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.86.

Insider Activity

In related news, Director Timothy Triche sold 3,082 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the transaction, the director now directly owns 36,343 shares in the company, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

LTC Properties Trading Up 1.2 %

NYSE LTC opened at $32.57 on Friday. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $35.72. The company has a 50 day moving average price of $32.00 and a 200 day moving average price of $32.10. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.41 billion, a PE ratio of 15.08 and a beta of 0.87.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date of this dividend is Thursday, June 20th. LTC Properties’s payout ratio is presently 105.56%.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.