LTC Properties, Inc. (NYSE:LTC) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lowered its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 74.6% in the fourth quarter, HoldingsChannel reports. The fund owned 16,720 shares of the real estate investment trust’s stock after selling 49,172 shares during the quarter. ExodusPoint Capital Management LP’s holdings in LTC Properties were worth $578,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LTC. Strategic Financial Concepts LLC increased its position in LTC Properties by 3,358.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after purchasing an additional 638,999 shares during the last quarter. State Street Corp grew its stake in shares of LTC Properties by 5.8% during the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock valued at $121,262,000 after buying an additional 181,973 shares during the period. Norges Bank acquired a new stake in shares of LTC Properties during the 4th quarter worth $5,000,000. JPMorgan Chase & Co. raised its position in shares of LTC Properties by 80.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock worth $9,312,000 after buying an additional 113,100 shares during the period. Finally, Schroder Investment Management Group acquired a new position in LTC Properties in the fourth quarter valued at $2,635,000. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Price Performance

Shares of NYSE LTC opened at $34.10 on Friday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. LTC Properties, Inc. has a 1-year low of $31.24 and a 1-year high of $39.89. The business has a 50-day moving average of $34.82 and a 200-day moving average of $35.76.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. On average, equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.19 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a yield of 6.69%. LTC Properties’s dividend payout ratio is currently 111.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LTC. Wells Fargo & Company cut their price objective on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, March 10th. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Tuesday, January 7th. Finally, Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.