Cwm LLC Sells 2,506 Shares of LTC Properties, Inc. (NYSE:LTC)

Cwm LLC lessened its position in shares of LTC Properties, Inc. (NYSE:LTC) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,399 shares of the real estate investment trust’s stock after selling 2,506 shares during the period. Cwm LLC owned about 0.07% of LTC Properties worth $976,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in LTC Properties by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 645,018 shares of the real estate investment trust’s stock valued at $20,724,000 after purchasing an additional 28,337 shares during the last quarter. Advisors Capital Management LLC lifted its stake in LTC Properties by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 416,764 shares of the real estate investment trust’s stock valued at $13,391,000 after purchasing an additional 15,306 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in LTC Properties by 4.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284,952 shares of the real estate investment trust’s stock valued at $9,153,000 after purchasing an additional 12,056 shares during the last quarter. abrdn plc lifted its stake in LTC Properties by 2,190.3% in the 4th quarter. abrdn plc now owns 189,978 shares of the real estate investment trust’s stock valued at $6,102,000 after purchasing an additional 181,683 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in LTC Properties by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 137,631 shares of the real estate investment trust’s stock valued at $4,422,000 after purchasing an additional 773 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

LTC Properties Trading Up 1.2 %

Shares of LTC stock opened at $32.56 on Monday. The firm has a 50 day moving average price of $32.02 and a two-hundred day moving average price of $32.10. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1.41 billion, a PE ratio of 15.07 and a beta of 0.87. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $35.72.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a $0.19 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.00%. LTC Properties’s payout ratio is 105.56%.

Insider Activity

In other news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the sale, the director now directly owns 36,343 shares in the company, valued at $1,150,982.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, LTC Properties currently has an average rating of “Hold” and an average target price of $33.50.

LTC Properties Profile

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.