Baird Financial Group Inc. cut its stake in LTC Properties, Inc. (NYSE:LTC) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 186,533 shares of the real estate investment trust’s stock after selling 10,057 shares during the period. Baird Financial Group Inc.’s holdings in LTC Properties were worth $8,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of LTC Properties by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 496,381 shares of the real estate investment trust’s stock valued at $23,320,000 after buying an additional 21,966 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in LTC Properties by 39.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 13,092 shares of the real estate investment trust’s stock worth $615,000 after buying an additional 3,712 shares during the period. State Street Corp raised its stake in LTC Properties by 4.2% in the fourth quarter. State Street Corp now owns 1,399,639 shares of the real estate investment trust’s stock worth $65,752,000 after buying an additional 56,329 shares during the period. Comerica Bank raised its stake in LTC Properties by 66.3% in the fourth quarter. Comerica Bank now owns 98,707 shares of the real estate investment trust’s stock worth $4,639,000 after buying an additional 39,339 shares during the period. Finally, National Planning Corp raised its stake in LTC Properties by 2.2% in the fourth quarter. National Planning Corp now owns 19,433 shares of the real estate investment trust’s stock worth $898,000 after buying an additional 411 shares during the period. Institutional investors own 85.19% of the company’s stock.
Shares of LTC Properties, Inc. (NYSE:LTC) traded down 0.67% during trading on Tuesday, reaching $45.85. 135,922 shares of the company traded hands. LTC Properties, Inc. has a 12 month low of $41.95 and a 12 month high of $54.20. The stock has a market cap of $1.80 billion, a P/E ratio of 21.28 and a beta of 0.19. The stock’s 50 day moving average price is $46.78 and its 200-day moving average price is $48.78.
The business also recently announced a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, March 21st. LTC Properties’s dividend payout ratio (DPR) is currently 105.56%.
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A number of research firms have recently issued reports on LTC. Mitsubishi UFJ Financial Group reissued a “neutral” rating on shares of LTC Properties in a research report on Thursday, January 5th. Zacks Investment Research lowered shares of LTC Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Cantor Fitzgerald set a $55.00 price target on shares of LTC Properties and gave the stock a “buy” rating in a research report on Friday, November 11th. Finally, RBC Capital Markets set a $50.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research report on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.86.
About LTC Properties
LTC Properties Inc is a healthcare real estate investment trust. The Company invests in senior housing and long-term care properties through acquisitions, development, mortgage loans and other investments. Its primary senior housing and long term healthcare property types include skilled nursing properties (SNF), assisted living properties (ALF), independent living properties (ILF), memory care properties (MC) and combinations thereof.
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