Cubist Systematic Strategies LLC Has $902,000 Stake 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 cut its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 35.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,455 shares of the real estate investment trust's stock after selling 14,232 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of LTC Properties worth $902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LTC. GF Fund Management CO. LTD. purchased a new stake in shares of LTC Properties during the 4th quarter worth about $27,000. KBC Group NV acquired a new position in shares of LTC Properties during the 1st quarter valued at about $33,000. Rossby Financial LCC bought a new position in shares of LTC Properties in the 1st quarter valued at approximately $58,000. Elite Financial Inc. bought a new position in shares of LTC Properties in the 1st quarter valued at approximately $69,000. Finally, State of Wyoming raised its stake in shares of LTC Properties by 91.7% in the 4th quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 1,396 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Performance

LTC traded up $0.00 during midday trading on Monday, reaching $36.22. The company's stock had a trading volume of 251,447 shares, compared to its average volume of 293,969. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89. The stock has a market cap of $1.67 billion, a P/E ratio of 19.90 and a beta of 0.69. The company has a fifty day simple moving average of $35.67 and a 200 day simple moving average of $35.37. 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 (NYSE:LTC - Get Free Report) last announced 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 company had revenue of $30.18 million for the quarter, compared to analyst estimates of $49.97 million. During the same quarter last year, the firm earned $0.45 EPS. LTC Properties's revenue for the quarter was up 20.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Research analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Buying and Selling at LTC Properties

In other news, EVP David M. Boitano acquired 6,000 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were bought at an average price of $34.71 per share, with a total value of $208,260.00. Following the acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

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.