Millennium Management LLC Sells 55,896 Shares of LTC Properties, Inc. (NYSE:LTC)

Millennium Management LLC cut its position in LTC Properties, Inc. (NYSE:LTC - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,267 shares of the real estate investment trust's stock after selling 55,896 shares during the period. Millennium Management LLC owned 0.38% of LTC Properties worth $5,952,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. AlphaQuest LLC lifted its position in LTC Properties by 23,470.0% in the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 2,347 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in LTC Properties by 28.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock valued at $88,000 after acquiring an additional 565 shares in the last quarter. Lazard Asset Management LLC lifted its position in LTC Properties by 49.2% in the 4th quarter. Lazard Asset Management LLC now owns 4,065 shares of the real estate investment trust's stock valued at $140,000 after acquiring an additional 1,341 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in LTC Properties by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust's stock valued at $162,000 after acquiring an additional 327 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock valued at $237,000 after acquiring an additional 314 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LTC shares. Wells Fargo & Company dropped their price target on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $36.00 price target on shares of LTC Properties in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.00.

LTC Properties Stock Performance

Shares of NYSE LTC traded up $0.03 during midday trading on Friday, reaching $35.40. The company's stock had a trading volume of 325,372 shares, compared to its average volume of 313,795. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The firm has a 50 day moving average price of $35.18 and a 200-day moving average price of $35.40. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.19 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 earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $49.03 million during the quarter, compared to analysts' expectations of $44.43 million. During the same quarter in the previous year, the firm earned $0.69 EPS. LTC Properties's quarterly revenue was down 4.5% on a year-over-year basis. As a group, equities 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 announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a dividend yield of 6.31%. LTC Properties's payout ratio is presently 117.53%.

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.