Millennium Management LLC Cuts Stake in LTC Properties, Inc. (NYSE:LTC)

Millennium Management LLC decreased its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

Several other institutional investors have also recently made changes to their positions in the business. AlphaQuest LLC boosted its stake 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 worth $81,000 after purchasing an additional 2,347 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of LTC Properties by 28.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock worth $88,000 after acquiring an additional 565 shares during the last quarter. Lazard Asset Management LLC grew its stake in LTC Properties by 49.2% during the fourth 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. grew its stake in LTC Properties by 7.5% during the fourth 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 stake 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 worth $237,000 after purchasing an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.

LTC Properties Trading Up 0.1%

NYSE LTC traded up $0.03 during trading on Friday, hitting $35.40. The stock had a trading volume of 325,372 shares, compared to its average volume of 313,840. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $39.89. The stock has a 50 day simple moving average of $35.16 and a 200 day simple moving average of $35.47. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.19 and a beta of 0.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $44.43 million. During the same period in the prior year, the business posted $0.69 earnings per share. LTC Properties's revenue was down 4.5% on a year-over-year basis. Sell-side analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a yield of 6.31%. LTC Properties's dividend payout ratio (DPR) is 117.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LTC. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $36.00 target price on shares of LTC Properties in a report on Monday, May 19th. Wells Fargo & Company cut their target price on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, LTC Properties has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

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.