First Trust Advisors LP Sells 33,029 Shares of LTC Properties, Inc. (NYSE:LTC)

First Trust Advisors LP reduced its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,198 shares of the real estate investment trust's stock after selling 33,029 shares during the period. First Trust Advisors LP owned 0.31% of LTC Properties worth $4,775,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LTC. Strategic Financial Concepts LLC grew its holdings in shares of LTC Properties by 3,358.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock valued at $22,735,000 after buying an additional 638,999 shares during the period. Marshall Wace LLP grew its stake in LTC Properties by 37.3% in the fourth quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust's stock valued at $19,082,000 after acquiring an additional 150,023 shares during the period. Norges Bank bought a new stake in shares of LTC Properties in the fourth quarter worth about $5,000,000. JPMorgan Chase & Co. raised its position in shares of LTC Properties by 80.4% during the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust's stock worth $9,312,000 after purchasing an additional 113,100 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of LTC Properties by 69.3% during the 4th quarter. Renaissance Technologies LLC now owns 207,700 shares of the real estate investment trust's stock valued at $7,176,000 after purchasing an additional 85,000 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Up 1.4 %

LTC traded up $0.49 during trading hours on Wednesday, hitting $36.28. 503,310 shares of the company's stock were exchanged, compared to its average volume of 306,463. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 15.57 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 stock's 50-day moving average is $35.19 and its two-hundred day moving average is $35.68. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $49.03 million during the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. LTC Properties's quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. Sell-side analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.19 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.28%. LTC Properties's payout ratio is 117.53%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LTC shares. Citizens Jmp raised shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 target price for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price target on 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.

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.