Wells Fargo & Company MN Has $1.23 Million Holdings in LTC Properties, Inc. (NYSE:LTC)

Wells Fargo & Company MN lessened its stake in LTC Properties, Inc. (NYSE:LTC) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,520 shares of the real estate investment trust’s stock after selling 11,638 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of LTC Properties worth $1,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaQuest LLC raised its stake in LTC Properties by 23,470.0% in the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 2,347 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 638 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in 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 valued at $88,000 after purchasing an additional 565 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in LTC Properties by 4.8% in the fourth 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 in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in LTC Properties in the fourth quarter valued at about $250,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Stock Performance

Shares of LTC stock opened at $35.51 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $39.89. The business’s 50 day simple moving average is $35.06 and its 200 day simple moving average is $35.70. The stock has a market capitalization of $1.63 billion, a PE ratio of 15.24 and a beta of 0.74.

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

LTC Properties Dividend Announcement

The company also recently announced 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 yield of 6.42%. The ex-dividend date is Friday, June 20th. LTC Properties’s dividend payout ratio is presently 111.22%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LTC. JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Tuesday, January 7th. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th.

LTC Properties Company 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.