LTC Properties, Inc. (NYSE:LTC) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in shares of LTC Properties, Inc. (NYSE:LTCGet Rating) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,199 shares of the real estate investment trust’s stock after selling 2,755 shares during the quarter. Comerica Bank’s holdings in LTC Properties were worth $1,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of LTC Properties during the second quarter worth about $2,752,000. Private Trust Co. NA increased its stake in shares of LTC Properties by 585.2% during the third quarter. Private Trust Co. NA now owns 740 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 632 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of LTC Properties during the second quarter worth about $41,000. Wipfli Financial Advisors LLC acquired a new position in shares of LTC Properties during the third quarter worth about $41,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in LTC Properties by 60.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,258 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 472 shares during the period. 72.68% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties Stock Down 1.0 %

LTC stock opened at $36.74 on Tuesday. The company’s 50 day simple moving average is $37.55 and its 200-day simple moving average is $39.53. The firm has a market capitalization of $1.49 billion, a PE ratio of 15.57 and a beta of 0.92. LTC Properties, Inc. has a 12 month low of $32.23 and a 12 month high of $45.49. The company has a debt-to-equity ratio of 0.96, a current ratio of 15.57 and a quick ratio of 15.57.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be given a $0.19 dividend. The ex-dividend date is Wednesday, March 22nd. This represents a $2.28 annualized dividend and a dividend yield of 6.21%. LTC Properties’s dividend payout ratio is presently 96.61%.

Analyst Ratings Changes

Several research analysts have weighed in on LTC shares. BMO Capital Markets lowered shares of LTC Properties from a “market perform” rating to an “underperform” rating and set a $38.00 target price on the stock. in a research report on Friday, December 16th. Royal Bank of Canada lowered 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 research report on Monday, November 7th. Finally, StockNews.com lowered shares of LTC Properties from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.14.

Insider Activity

In other news, CAO Caroline Chikhale sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $39.46, for a total value of $197,300.00. Following the sale, the chief accounting officer now directly owns 39,338 shares in the company, valued at $1,552,277.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

LTC Properties Company 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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