State of Alaska Department of Revenue Lowers Stake in LTC Properties, Inc. (NYSE:LTC)

State of Alaska Department of Revenue lowered its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,536 shares of the real estate investment trust’s stock after selling 595 shares during the quarter. State of Alaska Department of Revenue owned 0.10% of LTC Properties worth $1,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its position in LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 314 shares during the period. Amalgamated Bank raised its position in LTC Properties by 2.5% in the 4th quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 315 shares during the period. Summit Investment Advisors Inc. raised its position in LTC Properties by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust’s stock worth $162,000 after purchasing an additional 327 shares during the period. Bridge City Capital LLC raised its position in LTC Properties by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust’s stock worth $1,537,000 after purchasing an additional 391 shares during the period. Finally, BNP Paribas Financial Markets raised its position in LTC Properties by 4.1% in the 4th quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 392 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $36.00 target price on shares of LTC Properties in a research report on Monday, May 19th. Wells Fargo & Company decreased their target price on shares of 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. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

LTC Properties Price Performance

Shares of LTC Properties stock opened at $35.17 on Wednesday. The firm has a market cap of $1.62 billion, a PE ratio of 18.13 and a beta of 0.66. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $35.41 and its two-hundred day simple moving average is $35.04.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. LTC Properties’s revenue was down 4.5% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. As a group, equities analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.19 per share. This represents a dividend yield of 6.31%. The ex-dividend date was Thursday, May 22nd. LTC Properties’s payout ratio is 117.53%.

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.