LTC Properties, Inc. $LTC Stake Cut by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its position in shares of LTC Properties, Inc. (NYSE:LTC) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,979 shares of the real estate investment trust’s stock after selling 1,315 shares during the quarter. IFM Investors Pty Ltd’s holdings in LTC Properties were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in shares of LTC Properties during the first quarter valued at $60,000. Caxton Associates LLP acquired a new position in shares of LTC Properties during the first quarter valued at $496,000. UniSuper Management Pty Ltd boosted its stake in LTC Properties by 7.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,800 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 900 shares during the period. AQR Capital Management LLC grew its position in LTC Properties by 2.8% in the 1st quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust’s stock worth $1,037,000 after purchasing an additional 806 shares during the last quarter. Finally, Royal Bank of Canada grew its position in LTC Properties by 37.7% in the 1st quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 5,840 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Wedbush upgraded shares of LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Finally, JMP Securities upped their target price on shares of LTC Properties from $40.00 to $43.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, LTC Properties presently has an average rating of “Buy” and a consensus price target of $39.25.

Insider Transactions at LTC Properties

In other news, EVP David M. Boitano bought 6,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were purchased at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. The trade was a 62.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by insiders.

LTC Properties Price Performance

Shares of NYSE LTC opened at $36.26 on Friday. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89. The firm’s 50-day simple moving average is $35.65 and its 200 day simple moving average is $35.36. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.67 billion, a P/E ratio of 19.92 and a beta of 0.69.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The business had revenue of $30.18 million for the quarter, compared to analysts’ expectations of $49.97 million. During the same period in the previous year, the business earned $0.45 earnings per share. The company’s revenue was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Equities analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were issued a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Thursday, August 21st. LTC Properties’s payout ratio is presently 125.27%.

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.