Voya Investment Management LLC Reduces Stock Position in LTC Properties, Inc. $LTC

Key Points

• Voya Investment Management LLC significantly reduced its holdings in LTC Properties, Inc. by 63.6%, selling 21,488 shares and retaining only 12,290 shares valued at $436,000 as per their latest SEC filing.
• Several other hedge funds have adjusted their positions, with some increasing their stakes, indicating a mixed sentiment among institutional investors in LTC Properties.
• Analysts have provided positive ratings, with Wedbush upgrading LTC Properties to a "strong-buy" rating and other firms adjusting their price targets upward, reflecting optimism about the company's future performance.

Voya Investment Management LLC trimmed its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 63.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,290 shares of the real estate investment trust's stock after selling 21,488 shares during the period. Voya Investment Management LLC's holdings in LTC Properties were worth $436,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Keudell Morrison Wealth Management increased its stake in shares of LTC Properties by 0.9% during the 1st quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust's stock worth $1,301,000 after purchasing an additional 328 shares in the last quarter. Arizona State Retirement System boosted its position in LTC Properties by 2.9% during the first quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust's stock worth $460,000 after acquiring an additional 360 shares during the last quarter. Denali Advisors LLC boosted its position in LTC Properties by 1.6% during the first quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust's stock worth $1,156,000 after acquiring an additional 522 shares during the last quarter. Groupe la Francaise boosted its position in LTC Properties by 3.8% during the first quarter. Groupe la Francaise now owns 16,219 shares of the real estate investment trust's stock worth $567,000 after acquiring an additional 601 shares during the last quarter. Finally, Adams Wealth Management boosted its position in LTC Properties by 3.5% during the first quarter. Adams Wealth Management now owns 19,071 shares of the real estate investment trust's stock worth $676,000 after acquiring an additional 647 shares during the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. BMO Capital Markets upgraded shares of LTC Properties from an "underperform" rating to a "market perform" rating and set a $39.00 price target on the stock in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of LTC Properties from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Royal Bank Of Canada lifted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, JMP Securities boosted their price objective on shares of 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 given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.00.

LTC Properties Price Performance

NYSE LTC opened at $36.55 on Friday. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. 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 stock has a market cap of $1.68 billion, a price-to-earnings ratio of 20.08 and a beta of 0.69. The company has a 50-day moving average price of $35.77 and a two-hundred day moving average price of $35.37.

LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm had revenue of $30.18 million during the quarter, compared to analysts' expectations of $49.97 million. During the same quarter in the prior year, the firm earned $0.45 EPS. LTC Properties's quarterly revenue was up 20.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. Analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Thursday, August 21st were paid a $0.19 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, August 21st. LTC Properties's dividend payout ratio is currently 125.27%.

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.

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