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

Northern Trust Corp grew its position in LTC Properties, Inc. (NYSE:LTC - Free Report) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 599,573 shares of the real estate investment trust's stock after purchasing an additional 103,482 shares during the quarter. Northern Trust Corp owned about 1.32% of LTC Properties worth $20,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew 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 buying an additional 2,347 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 buying an additional 565 shares in the last quarter. Summit Investment Advisors Inc. grew its position 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 worth $162,000 after buying an additional 327 shares in the last quarter. Mutual of America Capital Management LLC grew its position in LTC Properties by 4.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after buying an additional 314 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in LTC Properties during the fourth quarter worth approximately $250,000. Institutional investors and hedge funds own 69.25% of the company's stock.

Wall Street Analyst Weigh In

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

LTC Properties Price Performance

Shares of LTC stock traded up $0.48 during trading hours on Friday, reaching $35.94. The company's stock had a trading volume of 279,928 shares, compared to its average volume of 310,195. The firm's 50 day simple moving average is $35.15 and its 200-day simple moving average is $35.61. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 15.43 and a beta of 0.68. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89. 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 issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $49.03 million during the quarter, compared to analyst estimates of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. Sell-side analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently declared 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, June 20th. LTC Properties's payout ratio is 117.53%.

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.