Renaissance Technologies LLC Buys 85,000 Shares of LTC Properties, Inc. (NYSE:LTC)

Renaissance Technologies LLC grew its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 69.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,700 shares of the real estate investment trust's stock after acquiring an additional 85,000 shares during the quarter. Renaissance Technologies LLC owned about 0.46% of LTC Properties worth $7,176,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LTC. AlphaQuest LLC boosted its position in LTC Properties by 23,470.0% during the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock worth $81,000 after acquiring an additional 2,347 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of LTC Properties by 35.3% during the 4th quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 638 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of LTC Properties by 28.5% during 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. FMR LLC grew its stake in shares of LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock valued at $106,000 after buying an additional 1,653 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings 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 acquiring an additional 314 shares during the period. Institutional investors and hedge funds own 69.25% of the company's stock.

Analysts Set New Price Targets

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

LTC Properties Price Performance

Shares of LTC traded down $0.07 during trading hours on Thursday, hitting $35.45. The stock had a trading volume of 39,145 shares, compared to its average volume of 302,678. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.19 and a beta of 0.74. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. The company's fifty day moving average is $35.02 and its two-hundred day moving average is $35.70.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. The firm had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. On average, analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.19 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.43%. LTC Properties's dividend payout ratio (DPR) is currently 111.22%.

LTC Properties 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.