First Trust Advisors LP Has $5.96 Million Position in LTC Properties Inc (LTC)

First Trust Advisors LP Has $5.96 Million Position in LTC Properties Inc (LTC)

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allegis Investment Advisors LLC increased its position in shares of LTC Properties by 30.9% in the third quarter. Allegis Investment Advisors LLC now owns 24,424 shares of the real estate investment trust’s stock valued at $1,270,000 after buying an additional 5,760 shares during the period. Emerald Acquisition Ltd. increased its position in shares of LTC Properties by 0.9% in the third quarter. Emerald Acquisition Ltd. now owns 74,349 shares of the real estate investment trust’s stock valued at $3,865,000 after buying an additional 636 shares during the period. Principal Financial Group Inc. increased its position in shares of LTC Properties by 8.0% in the third quarter. Principal Financial Group Inc. now owns 298,534 shares of the real estate investment trust’s stock valued at $15,521,000 after buying an additional 22,160 shares during the period. Cetera Advisor Networks LLC increased its position in shares of LTC Properties by 45.4% in the third quarter. Cetera Advisor Networks LLC now owns 12,275 shares of the real estate investment trust’s stock valued at $638,000 after buying an additional 3,834 shares during the period. Finally, Tributary Capital Management LLC increased its position in shares of LTC Properties by 49.6% in the third quarter. Tributary Capital Management LLC now owns 224,087 shares of the real estate investment trust’s stock valued at $11,650,000 after buying an additional 74,342 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

First Trust Advisors LP cut its stake in shares of LTC Properties Inc (NYSE:LTC) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,364 shares of the real estate investment trust’s stock after selling 3,406 shares during the period. First Trust Advisors LP’s holdings in LTC Properties were worth $5,957,000 as of its most recent SEC filing.

LTC Properties Inc (NYSE LTC) traded up 0.46% during mid-day trading on Wednesday, reaching $48.20. 259,114 shares of the company traded hands. LTC Properties Inc has a 52-week low of $43.17 and a 52-week high of $54.20. The stock has a 50 day moving average price of $48.26 and a 200-day moving average price of $47.01. The company has a market capitalization of $1.91 billion, a P/E ratio of 21.74 and a beta of 0.19.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, May 8th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by $0.24. The company had revenue of $42.62 million during the quarter, compared to analyst estimates of $34.82 million. LTC Properties had a return on equity of 11.71% and a net margin of 52.34%. Analysts expect that LTC Properties Inc will post $2.21 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 22nd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 4.73%. LTC Properties’s payout ratio is 105.56%.

Several research analysts have recently weighed in on LTC shares. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 target price on shares of LTC Properties in a research note on Monday, February 27th. Zacks Investment Research downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. BMO Capital Markets restated a “hold” rating and issued a $50.00 target price on shares of LTC Properties in a research note on Tuesday, May 9th. Stifel Nicolaus restated a “hold” rating and issued a $50.00 target price (down from $51.00) on shares of LTC Properties in a research note on Tuesday, May 9th. Finally, Canaccord Genuity restated a “buy” rating and issued a $58.00 target price on shares of LTC Properties in a research note on Tuesday, May 9th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.43.

In other news, Director Timothy Triche sold 4,000 shares of the firm’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $47.02, for a total value of $188,080.00. Following the sale, the director now owns 35,204 shares in the company, valued at $1,655,292.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

About LTC Properties

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LTC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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