Cubist Systematic Strategies LLC Reduces Holdings in LTC Properties, Inc. $LTC

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in LTC Properties, Inc. by 35.9% to approximately $902,000 as of the most recent reporting period, after selling 14,232 shares.
• Insider transactions revealed that EVP David M. Boitano increased his holdings in LTC Properties by purchasing 6,000 shares, raising his total ownership by 62.33%.
• LTC Properties declared a monthly dividend of $0.19 per share with an annualized yield of 6.2%, despite having a payout ratio of 125.27%.

Cubist Systematic Strategies LLC reduced its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,455 shares of the real estate investment trust's stock after selling 14,232 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.06% of LTC Properties worth $902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LTC. Jupiter Asset Management Ltd. acquired a new position in shares of LTC Properties in the first quarter worth approximately $9,358,000. Charles Schwab Investment Management Inc. lifted its stake in shares of LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock worth $33,653,000 after acquiring an additional 126,598 shares during the period. Nuveen LLC acquired a new position in shares of LTC Properties in the first quarter worth approximately $4,487,000. Northern Trust Corp lifted its stake in shares of LTC Properties by 20.9% in the fourth quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust's stock worth $20,715,000 after acquiring an additional 103,482 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of LTC Properties by 3,445.0% in the first quarter. GAMMA Investing LLC now owns 86,604 shares of the real estate investment trust's stock worth $3,070,000 after acquiring an additional 84,161 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Down 0.7%

LTC Properties stock traded down $0.27 during trading on Friday, hitting $36.26. 257,480 shares of the company were exchanged, compared to its average volume of 294,223. The business's 50 day moving average is $35.65 and its 200 day moving average is $35.36. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. The company has a market capitalization of $1.67 billion, a P/E ratio of 19.92 and a beta of 0.69.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The business had revenue of $30.18 million for the quarter, compared to analysts' expectations of $49.97 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business'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. Analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Thursday, August 21st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a c) annualized dividend and a yield of 6.3%. LTC Properties's payout ratio is currently 125.27%.

Insiders Place Their Bets

In other LTC Properties news, EVP David M. Boitano acquired 6,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were acquired at an average price of $34.71 per share, with a total value of $208,260.00. Following the completion of the transaction, the executive vice president owned 15,626 shares in the company, valued at approximately $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. JMP Securities upped their price target on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada upped their price target on LTC Properties from $36.00 to $37.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $39.25.

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.