Deutsche Bank AG Has $2.01 Million Stock Position in LTC Properties, Inc. $LTC

Key Points

• Deutsche Bank AG has reduced its stake in LTC Properties, Inc. by 57.2%, selling 75,625 shares and now owning only 56,558 shares worth approximately $2 million.
• LTC Properties reported earnings of $0.68 per share for the latest quarter, exceeding estimates, while also announcing a dividend of $0.19 per share, reflecting a high yield of 642.0%.
• Institutional investors currently hold 69.25% of LTC Properties stock, and various analysts have raised their price targets for the stock, with an average target of $39.00.

Deutsche Bank AG trimmed its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 57.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,558 shares of the real estate investment trust's stock after selling 75,625 shares during the period. Deutsche Bank AG owned 0.12% of LTC Properties worth $2,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Keudell Morrison Wealth Management lifted its position in shares of LTC Properties by 0.9% in the first quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust's stock valued at $1,301,000 after buying an additional 328 shares during the last quarter. Arizona State Retirement System lifted its holdings in LTC Properties by 2.9% during the 1st quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust's stock worth $460,000 after purchasing an additional 360 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in LTC Properties by 4.1% during the 4th quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust's stock worth $342,000 after purchasing an additional 392 shares during the last quarter. Denali Advisors LLC lifted its holdings in LTC Properties by 1.6% during the 1st quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust's stock worth $1,156,000 after purchasing an additional 522 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in LTC Properties by 5.6% during the 1st quarter. Assetmark Inc. now owns 13,944 shares of the real estate investment trust's stock worth $494,000 after purchasing an additional 735 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Price Performance

NYSE LTC traded up $0.35 during midday trading on Wednesday, hitting $36.44. The company had a trading volume of 381,660 shares, compared to its average volume of 392,421. The company has a market capitalization of $1.68 billion, a PE ratio of 20.02 and a beta of 0.66. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $35.29 and a 200-day moving average price of $35.19. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89.

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, beating 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 firm had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same period in the previous year, the firm earned $0.45 EPS. The company's quarterly revenue 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. As a group, analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a dividend yield of 642.0%. LTC Properties's payout ratio is 125.27%.

Insider Activity at LTC Properties

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the stock in a transaction dated Friday, June 27th. The stock was 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 approximately $542,378.46. This represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

LTC has been the subject of several research reports. Royal Bank Of Canada lifted 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. Wells Fargo & Company lifted their price target on LTC Properties from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday. Wedbush raised LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Finally, JMP Securities lifted 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. Two research 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. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $39.25.

LTC Properties Company 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.