Pictet Asset Management SA Has $638,000 Holdings in LTC Properties, Inc. (NYSE:LTC)

Pictet Asset Management SA boosted its holdings in LTC Properties, Inc. (NYSE:LTCGet Rating) by 10.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,629 shares of the real estate investment trust’s stock after acquiring an additional 1,628 shares during the quarter. Pictet Asset Management SA’s holdings in LTC Properties were worth $638,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LTC. Vanguard Group Inc. raised its holdings in LTC Properties by 1.6% in the 1st 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. State Street Corp grew its holdings in LTC Properties by 27.2% during the 1st quarter. State Street Corp now owns 3,533,890 shares of the real estate investment trust’s stock worth $135,949,000 after acquiring an additional 755,055 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in LTC Properties by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,012,374 shares of the real estate investment trust’s stock worth $38,946,000 after acquiring an additional 33,008 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in LTC Properties by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 566,986 shares of the real estate investment trust’s stock worth $21,812,000 after acquiring an additional 23,752 shares during the last quarter. Finally, Advisors Capital Management LLC grew its holdings in LTC Properties by 7.0% during the 1st quarter. Advisors Capital Management LLC now owns 415,705 shares of the real estate investment trust’s stock worth $15,992,000 after acquiring an additional 27,096 shares during the last quarter. 73.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 1,100 shares of the firm’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $43.48, for a total value of $47,828.00. Following the transaction, the director now directly owns 42,413 shares of the company’s stock, valued at $1,844,117.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by corporate insiders.

LTC Properties Stock Down 0.4 %

Shares of NYSE LTC opened at $38.88 on Thursday. The company has a market capitalization of $1.57 billion, a P/E ratio of 16.47 and a beta of 0.91. LTC Properties, Inc. has a 52-week low of $31.36 and a 52-week high of $45.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 15.57 and a current ratio of 15.57. The company’s 50 day moving average price is $38.47 and its 200-day moving average price is $39.65.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 22nd will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, December 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.86%. LTC Properties’s payout ratio is presently 96.61%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LTC. Royal Bank of Canada reduced their target price on shares of LTC Properties from $44.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, November 7th. Berenberg Bank raised shares of LTC Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $47.00 in a report on Monday, August 1st. Barclays boosted their target price on shares of LTC Properties to $35.00 in a report on Tuesday, August 9th. TheStreet upgraded shares of LTC Properties from a “c+” rating to a “b” rating in a research report on Friday, July 29th. Finally, StockNews.com downgraded shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $40.43.

LTC Properties Profile

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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.

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

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