First Trust Advisors LP reduced its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,340 shares of the real estate investment trust’s stock after selling 3,024 shares during the period. First Trust Advisors LP owned 0.31% of LTC Properties worth $6,236,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Foundry Partners LLC increased its stake in LTC Properties by 34.5% in the second quarter. Foundry Partners LLC now owns 6,525 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 1,675 shares during the period. Schwab Charles Investment Management Inc. increased its stake in LTC Properties by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 369,475 shares of the real estate investment trust’s stock valued at $18,988,000 after buying an additional 19,393 shares during the period. Texas Permanent School Fund increased its position in LTC Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 28,892 shares of the real estate investment trust’s stock valued at $1,485,000 after buying an additional 233 shares during the period. Barnett & Company Inc. increased its position in LTC Properties by 2.4% in the second quarter. Barnett & Company Inc. now owns 89,210 shares of the real estate investment trust’s stock valued at $4,585,000 after buying an additional 2,075 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in LTC Properties by 9.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 81.37% of the company’s stock.

LTC Properties, Inc. (LTC) opened at 48.07 on Wednesday. LTC Properties, Inc. has a 1-year low of $43.17 and a 1-year high of $54.20. The firm has a market cap of $1.90 billion, a P/E ratio of 21.13 and a beta of 0.12. The firm has a 50 day moving average of $49.82 and a 200 day moving average of $48.58.

LTC Properties (NYSE:LTC) last announced its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. LTC Properties had a net margin of 53.36% and a return on equity of 11.99%. The business had revenue of $42.47 million for the quarter, compared to analyst estimates of $35.08 million. On average, equities research analysts expect that LTC Properties, Inc. will post $2.19 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 23rd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Monday, August 21st. LTC Properties’s dividend payout ratio (DPR) is currently 100.00%.

ILLEGAL ACTIVITY NOTICE: “First Trust Advisors LP Lowers Position in LTC Properties, Inc. (LTC)” was first published by Watch List News and is owned by of Watch List News. If you are reading this piece on another site, it was stolen and reposted in violation of international copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/first-trust-advisors-lp-lowers-position-in-ltc-properties-inc-ltc/1530909.html.

Several research firms have commented on LTC. BMO Capital Markets downgraded shares of LTC Properties from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $50.00 to $44.00 in a research note on Friday, August 11th. BidaskClub downgraded shares of LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Stifel Nicolaus set a $46.00 price target on shares of LTC Properties and gave the stock a “hold” rating in a research note on Sunday, August 13th. Royal Bank Of Canada restated a “hold” rating and issued a $50.00 price target on shares of LTC Properties in a research note on Tuesday, May 23rd. Finally, Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. LTC Properties presently has a consensus rating of “Hold” and an average price target of $50.60.

LTC Properties Company Profile

LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).

Want to see what other hedge funds are holding LTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LTC Properties, Inc. (NYSE:LTC).

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

Receive News & Ratings for LTC Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.