Deutsche Bank AG lowered its stake in shares of LTC Properties Inc (NYSE:LTC) by 18.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,238 shares of the real estate investment trust’s stock after selling 6,891 shares during the quarter. Deutsche Bank AG owned 0.08% of LTC Properties worth $934,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its position in LTC Properties by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 78,018 shares of the real estate investment trust’s stock valued at $2,411,000 after acquiring an additional 710 shares during the last quarter. Nuveen Asset Management LLC grew its position in LTC Properties by 25.0% in the 1st quarter. Nuveen Asset Management LLC now owns 220,158 shares of the real estate investment trust’s stock valued at $6,615,000 after acquiring an additional 43,978 shares during the last quarter. AlphaCrest Capital Management LLC grew its position in LTC Properties by 54.0% in the 1st quarter. AlphaCrest Capital Management LLC now owns 35,034 shares of the real estate investment trust’s stock valued at $1,083,000 after acquiring an additional 12,280 shares during the last quarter. Kestrel Investment Management Corp bought a new position in LTC Properties in the 1st quarter valued at $3,688,000. Finally, BNP Paribas Arbitrage SA grew its position in LTC Properties by 77.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 23,011 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 10,068 shares during the last quarter. 75.68% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on LTC. Royal Bank of Canada reiterated a “sell” rating and issued a $32.00 target price on shares of LTC Properties in a report on Sunday, May 17th. BMO Capital Markets reiterated a “sell” rating and issued a $37.00 target price on shares of LTC Properties in a report on Monday, May 4th. JMP Securities assumed coverage on LTC Properties in a research note on Monday, June 8th. They set a “market perform” rating for the company. TheStreet upgraded LTC Properties from a “c” rating to a “b-” rating in a research note on Thursday, June 25th. Finally, Zacks Investment Research upgraded LTC Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. LTC Properties presently has an average rating of “Hold” and an average price target of $35.13.
LTC Properties (NYSE:LTC) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.73 EPS for the quarter, topping the consensus estimate of $0.52 by $0.21. The firm had revenue of $38.04 million for the quarter, compared to analyst estimates of $37.15 million. LTC Properties had a return on equity of 15.60% and a net margin of 66.42%. Sell-side analysts forecast that LTC Properties Inc will post 2.89 earnings per share for the current year.
The business also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 6.10%. The ex-dividend date was Friday, June 19th. LTC Properties’s dividend payout ratio (DPR) is 74.03%.
LTC Properties Company Profile
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.
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