LTC Properties, Inc. (NYSE:LTC) Stock Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 69.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,700 shares of the real estate investment trust’s stock after buying an additional 85,000 shares during the quarter. Renaissance Technologies LLC’s holdings in LTC Properties were worth $7,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Financial Concepts LLC grew its stake 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 worth $22,735,000 after purchasing an additional 638,999 shares during the last quarter. Norges Bank acquired a new position in LTC Properties in the fourth quarter worth approximately $5,000,000. JPMorgan Chase & Co. increased its holdings in shares of LTC Properties by 80.4% in the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock valued at $9,312,000 after buying an additional 113,100 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of LTC Properties during the 4th quarter valued at $2,635,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of LTC Properties by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 822,724 shares of the real estate investment trust’s stock worth $28,425,000 after acquiring an additional 68,212 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. 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 note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price 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 Stock Up 1.2 %

NYSE:LTC opened at $35.72 on Friday. The business’s fifty day moving average price is $34.89 and its 200 day moving average price is $35.71. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.33 and a beta of 0.74. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 1-year low of $31.24 and a 1-year high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. On average, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business 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 6.38%. The ex-dividend date is Friday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 111.22%.

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.