JPMorgan Chase & Co. Raises Stake in LTC Properties, Inc. (NYSE:LTC)

JPMorgan Chase & Co. lifted its position in LTC Properties, Inc. (NYSE:LTC) by 32.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,734 shares of the real estate investment trust’s stock after purchasing an additional 82,927 shares during the period. JPMorgan Chase & Co. owned about 0.74% of LTC Properties worth $11,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC increased its stake in LTC Properties by 23,470.0% in the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 2,347 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of LTC Properties by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock valued at $84,000 after acquiring an additional 638 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of LTC Properties by 28.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 565 shares during the period. FMR LLC grew its position in shares of LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 1,653 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in LTC Properties by 4.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 314 shares during the period. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $34.10 on Monday. The firm has a fifty day simple moving average of $34.81 and a two-hundred day simple moving average of $35.74. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.56 billion, a P/E ratio of 14.63 and a beta of 0.74. LTC Properties, Inc. has a 52 week low of $31.24 and a 52 week high of $39.89.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. On average, analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.28 annualized dividend and a yield of 6.69%. LTC Properties’s payout ratio is presently 111.22%.

Analyst Upgrades and Downgrades

LTC has been the subject of a number of research analyst reports. Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price objective on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 10th.

About LTC Properties

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.