Cubist Systematic Strategies LLC Cuts Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Cubist Systematic Strategies LLC trimmed its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 52.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,687 shares of the real estate investment trust's stock after selling 43,271 shares during the period. Cubist Systematic Strategies LLC owned about 0.09% of LTC Properties worth $1,371,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LTC. Vanguard Group Inc. raised its stake in LTC Properties by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,960,934 shares of the real estate investment trust's stock valued at $240,500,000 after acquiring an additional 39,470 shares during the period. Geode Capital Management LLC raised its stake in LTC Properties by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,166,601 shares of the real estate investment trust's stock valued at $40,314,000 after acquiring an additional 41,581 shares during the period. Bank of New York Mellon Corp raised its stake in LTC Properties by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust's stock valued at $33,260,000 after acquiring an additional 55,254 shares during the period. Charles Schwab Investment Management Inc. raised its stake in LTC Properties by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 822,724 shares of the real estate investment trust's stock valued at $28,425,000 after acquiring an additional 68,212 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in LTC Properties by 3,358.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock valued at $22,735,000 after acquiring an additional 638,999 shares during the period. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Price Performance

Shares of LTC traded up $0.48 during midday trading on Friday, hitting $35.94. 279,928 shares of the company traded hands, compared to its average volume of 309,481. The stock has a 50-day moving average of $35.15 and a 200-day moving average of $35.66. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $39.89. The firm has a market cap of $1.65 billion, a P/E ratio of 15.43 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 announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $44.43 million. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company's quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.34%. The ex-dividend date is Friday, June 20th. LTC Properties's payout ratio is 117.53%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th.

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.