Geode Capital Management LLC Purchases 41,581 Shares of LTC Properties, Inc. (NYSE:LTC)

Geode Capital Management LLC increased its position in LTC Properties, Inc. (NYSE:LTC) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,166,601 shares of the real estate investment trust’s stock after purchasing an additional 41,581 shares during the quarter. Geode Capital Management LLC owned approximately 2.58% of LTC Properties worth $40,314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LTC. AlphaQuest LLC raised its holdings 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 acquiring an additional 2,347 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of LTC Properties by 35.3% in the 4th quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 638 shares in the last quarter. PNC Financial Services Group Inc. raised 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 purchasing an additional 565 shares during the last quarter. FMR LLC lifted its holdings 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 valued at $106,000 after purchasing an additional 1,653 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted 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 acquiring an additional 314 shares during the period. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Stock Performance

NYSE:LTC opened at $35.02 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 15.03 and a beta of 0.74. LTC Properties, Inc. has a 1 year low of $31.24 and a 1 year high of $39.89. The stock’s 50 day simple moving average is $34.82 and its two-hundred day simple moving average is $35.73.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. The company had revenue of $34.81 million for the quarter, compared to analysts’ expectations of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties’s dividend payout ratio is currently 111.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LTC shares. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th.

LTC Properties Profile

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.