Jane Street Group LLC lowered its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 79.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,625 shares of the real estate investment trust's stock after selling 66,773 shares during the quarter. Jane Street Group LLC's holdings in LTC Properties were worth $609,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in LTC Properties by 148.8% in the 3rd quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust's stock valued at $3,228,000 after acquiring an additional 52,619 shares during the period. Los Angeles Capital Management LLC acquired a new stake in LTC Properties in the 4th quarter valued at $250,000. Bank of New York Mellon Corp grew 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. Principal Financial Group Inc. grew its stake in LTC Properties by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 246,663 shares of the real estate investment trust's stock valued at $8,522,000 after acquiring an additional 17,487 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in LTC Properties in the 4th quarter valued at $464,000. Institutional investors and hedge funds own 69.25% of the company's stock.
Analysts Set New Price Targets
LTC has been the topic of several recent research reports. Wells Fargo & Company lowered their target price on shares of 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. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $36.00 target price on shares of LTC Properties in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, LTC Properties has an average rating of "Moderate Buy" and an average price target of $38.00.
Read Our Latest Report on LTC Properties
LTC Properties Trading Up 0.1%
LTC traded up $0.03 on Friday, hitting $35.40. The company had a trading volume of 325,372 shares, compared to its average volume of 313,795. The firm has a market cap of $1.63 billion, a P/E ratio of 15.19 and a beta of 0.68. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $39.89. The company's fifty day moving average price is $35.18 and its 200 day moving average price is $35.40. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.
LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $49.03 million during the quarter, compared to analysts' expectations of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.
LTC Properties Announces Dividend
The company also recently announced a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 23rd were given a $0.19 dividend. This represents a yield of 6.31%. The ex-dividend date of this dividend was Thursday, May 22nd. LTC Properties's dividend payout ratio is currently 117.53%.
LTC Properties Company Profile
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Free Report)
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.
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