Balyasny Asset Management L.P. Sells 28,889 Shares of LTC Properties, Inc. (NYSE:LTC)

Balyasny Asset Management L.P. trimmed its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 499,713 shares of the real estate investment trust's stock after selling 28,889 shares during the period. Balyasny Asset Management L.P. owned 1.10% of LTC Properties worth $17,265,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Strategic Financial Concepts LLC lifted its holdings in LTC Properties by 3,358.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock worth $22,735,000 after purchasing an additional 638,999 shares during the last quarter. Marshall Wace LLP lifted its holdings in LTC Properties by 37.3% during the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust's stock worth $19,082,000 after purchasing an additional 150,023 shares during the last quarter. Norges Bank acquired a new stake in LTC Properties during the 4th quarter worth approximately $5,000,000. JPMorgan Chase & Co. lifted its holdings in LTC Properties by 80.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust's stock worth $9,312,000 after purchasing an additional 113,100 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in LTC Properties by 20.9% during the 4th quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust's stock worth $20,715,000 after purchasing an additional 103,482 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their price target on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, March 10th.

LTC Properties Price Performance

LTC stock traded down $0.29 during midday trading on Monday, reaching $35.61. 181,726 shares of the stock were exchanged, compared to its average volume of 306,874. The company has a fifty day moving average price of $35.19 and a 200 day moving average price of $35.68. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. The stock has a market capitalization of $1.64 billion, a PE ratio of 15.30 and a beta of 0.68. 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 (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. During the same quarter last year, the firm posted $0.69 EPS. The company's quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Friday, June 20th. LTC Properties's payout ratio is 117.53%.

About LTC Properties

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.