KLP Kapitalforvaltning AS Reduces Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

KLP Kapitalforvaltning AS lowered its position in shares of LTC Properties, Inc. (NYSE:LTC) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,300 shares of the real estate investment trust’s stock after selling 1,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in LTC Properties were worth $755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of LTC Properties by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,960,934 shares of the real estate investment trust’s stock worth $240,500,000 after buying an additional 39,470 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of LTC Properties by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 1,166,601 shares of the real estate investment trust’s stock worth $40,314,000 after acquiring an additional 41,581 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LTC Properties by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 646,592 shares of the real estate investment trust’s stock worth $22,340,000 after buying an additional 19,486 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of LTC Properties by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 642,325 shares of the real estate investment trust’s stock valued at $22,192,000 after purchasing an additional 17,842 shares during the last quarter. Finally, Northern Trust Corp grew its position in LTC Properties by 20.9% in the 4th quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust’s stock valued at $20,715,000 after acquiring an additional 103,482 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Trading Up 1.1%

Shares of LTC opened at $34.74 on Wednesday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.91 and a beta of 0.65. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The stock’s 50-day moving average price is $35.14 and its 200 day moving average price is $35.03.

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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The firm had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. During the same period in the prior year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, research analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 24th will be paid a $0.19 dividend. This represents a yield of 6.47%. The ex-dividend date of this dividend is Wednesday, July 23rd. LTC Properties’s payout ratio is 117.53%.

Analyst Ratings Changes

A number of research analysts have recently commented on LTC shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $36.00 price objective on shares of LTC Properties in a report on Monday, May 19th. Wedbush raised LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $38.00.

Insider Activity at LTC Properties

In other LTC Properties news, EVP David M. Boitano acquired 6,000 shares of LTC Properties stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $34.71 per share, for a total transaction of $208,260.00. Following the completion of the acquisition, the executive vice president directly owned 15,626 shares of the company’s stock, valued at $542,378.46. This represents a 62.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

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.