Northern Trust Corp Purchases 103,482 Shares of LTC Properties, Inc. (NYSE:LTC)

Northern Trust Corp raised its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 20.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,573 shares of the real estate investment trust's stock after acquiring an additional 103,482 shares during the period. Northern Trust Corp owned approximately 1.32% of LTC Properties worth $20,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTC. AlphaQuest LLC raised its holdings in shares of LTC Properties by 23,470.0% during the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock worth $81,000 after buying an additional 2,347 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of 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 buying an additional 565 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of 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 buying an additional 327 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of LTC Properties by 4.8% during 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 purchasing an additional 314 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of LTC Properties during the 4th quarter valued at about $250,000. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Up 1.2%

Shares of LTC Properties stock traded up $0.41 on Thursday, hitting $35.45. The company had a trading volume of 293,360 shares, compared to its average volume of 309,061. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.21 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 has a 50 day moving average of $35.15 and a 200-day moving average of $35.67. 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 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $49.03 million for the quarter, compared to analysts' expectations of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business's revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties's payout ratio is 117.53%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price target on LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, March 10th.

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.