AdvisorNet Financial Inc Sells 278 Shares of LTC Properties, Inc. (NYSE:LTC)

AdvisorNet Financial Inc reduced its stake in LTC Properties, Inc. (NYSE:LTCGet Rating) by 16.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,400 shares of the real estate investment trust’s stock after selling 278 shares during the period. AdvisorNet Financial Inc’s holdings in LTC Properties were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LTC. State Street Corp grew its holdings in shares of LTC Properties by 27.2% during the first quarter. State Street Corp now owns 3,533,890 shares of the real estate investment trust’s stock valued at $135,949,000 after buying an additional 755,055 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of LTC Properties during the first quarter valued at about $10,505,000. Weiss Multi Strategy Advisers LLC acquired a new position in shares of LTC Properties during the first quarter valued at about $9,948,000. Vanguard Group Inc. grew its holdings in shares of LTC Properties by 1.6% during the first quarter. Vanguard Group Inc. now owns 6,457,708 shares of the real estate investment trust’s stock valued at $248,428,000 after buying an additional 102,310 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of LTC Properties by 10.7% during the fourth quarter. Invesco Ltd. now owns 913,638 shares of the real estate investment trust’s stock valued at $31,191,000 after buying an additional 88,222 shares during the last quarter. 73.12% of the stock is owned by institutional investors.

LTC Properties Price Performance

LTC Properties stock opened at $39.52 on Friday. LTC Properties, Inc. has a 12 month low of $31.36 and a 12 month high of $45.49. The company has a current ratio of 15.51, a quick ratio of 15.51 and a debt-to-equity ratio of 0.91. The business’s 50 day simple moving average is $42.75 and its 200 day simple moving average is $39.07. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 17.03 and a beta of 0.87.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $2.28 annualized dividend and a yield of 5.77%. LTC Properties’s payout ratio is 98.28%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.48, for a total value of $47,828.00. Following the transaction, the director now owns 42,413 shares in the company, valued at $1,844,117.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Capital One Financial began coverage on shares of LTC Properties in a report on Friday, June 3rd. They set an “equal weight” rating and a $41.00 price objective for the company. Berenberg Bank upgraded shares of LTC Properties from a “hold” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $47.00 in a report on Monday, August 1st. TheStreet upgraded shares of LTC Properties from a “c+” rating to a “b” rating in a report on Friday, July 29th. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $37.00 to $40.00 in a report on Tuesday, June 21st. Finally, Barclays boosted their price target on shares of LTC Properties to $35.00 in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, LTC Properties has a consensus rating of “Hold” and an average target price of $41.00.

About LTC Properties

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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 181 investments in 27 states with 29 operating partners.

See Also

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

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