Royal Bank of Canada Lowers Position in LTC Properties Inc (NYSE:LTC)

Royal Bank of Canada lessened its position in LTC Properties Inc (NYSE:LTC) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,438 shares of the real estate investment trust’s stock after selling 14,752 shares during the quarter. Royal Bank of Canada owned approximately 0.30% of LTC Properties worth $5,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. raised its stake in shares of LTC Properties by 17.8% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,520 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 230 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of LTC Properties by 2.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,880 shares of the real estate investment trust’s stock worth $542,000 after purchasing an additional 260 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of LTC Properties by 2.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,658 shares of the real estate investment trust’s stock worth $715,000 after purchasing an additional 300 shares during the last quarter. Pitcairn Co. raised its stake in shares of LTC Properties by 6.1% in the second quarter. Pitcairn Co. now owns 5,664 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 325 shares during the last quarter. Finally, 6 Meridian raised its stake in shares of LTC Properties by 2.2% in the second quarter. 6 Meridian now owns 15,782 shares of the real estate investment trust’s stock worth $721,000 after purchasing an additional 341 shares during the last quarter. Institutional investors own 75.78% of the company’s stock.

Shares of LTC opened at $50.85 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 9.57 and a quick ratio of 9.57. LTC Properties Inc has a one year low of $40.11 and a one year high of $51.93. The firm has a market capitalization of $2.04 billion, a P/E ratio of 16.62, a PEG ratio of 4.19 and a beta of 0.37. The business has a fifty day moving average of $50.08 and a 200 day moving average of $47.01.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.25). LTC Properties had a return on equity of 13.18% and a net margin of 63.58%. The firm had revenue of $38.28 million during the quarter, compared to the consensus estimate of $30.54 million. Analysts expect that LTC Properties Inc will post 3.06 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 23rd will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, October 22nd. LTC Properties’s payout ratio is currently 74.51%.

In related news, CEO Wendy Simpson sold 7,000 shares of LTC Properties stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $49.20, for a total value of $344,400.00. Following the completion of the sale, the chief executive officer now owns 379,365 shares of the company’s stock, valued at $18,664,758. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Several research firms have recently weighed in on LTC. Credit Suisse Group began coverage on LTC Properties in a research note on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 price target for the company. Zacks Investment Research cut LTC Properties from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Berenberg Bank began coverage on LTC Properties in a research note on Thursday, September 12th. They issued a “hold” rating and a $49.00 price target for the company. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. LTC Properties presently has a consensus rating of “Hold” and a consensus price target of $40.20.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.

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Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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