Sumitomo Mitsui Trust Group Inc. Sells 371 Shares of LTC Properties, Inc. $LTC

Sumitomo Mitsui Trust Group Inc. decreased its position in LTC Properties, Inc. (NYSE:LTC) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,140 shares of the real estate investment trust’s stock after selling 371 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in LTC Properties were worth $1,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LTC. Cambridge Investment Research Advisors Inc. bought a new position in LTC Properties during the 1st quarter valued at about $200,000. KBC Group NV bought a new position in LTC Properties during the 1st quarter valued at about $33,000. New York State Teachers Retirement System lifted its stake in LTC Properties by 5.7% during the 1st quarter. New York State Teachers Retirement System now owns 81,015 shares of the real estate investment trust’s stock valued at $2,872,000 after acquiring an additional 4,376 shares during the period. Rossby Financial LCC bought a new position in LTC Properties during the 1st quarter valued at about $58,000. Finally, Principal Financial Group Inc. lifted its stake in LTC Properties by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust’s stock valued at $9,051,000 after acquiring an additional 8,646 shares during the period. Institutional investors own 69.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LTC. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a research note on Wednesday, September 24th. Cantor Fitzgerald began coverage on shares of LTC Properties in a research note on Wednesday, October 1st. They set a “neutral” rating and a $38.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $43.00 target price on shares of LTC Properties in a research note on Friday, October 17th. Royal Bank Of Canada upped their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of LTC Properties from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

LTC Properties Trading Up 1.3%

LTC Properties stock opened at $35.09 on Friday. The firm has a 50 day moving average of $35.73 and a 200 day moving average of $35.45. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.28 and a beta of 0.68. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. As a group, research analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently announced a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be issued a $0.19 dividend. This represents a yield of 615.0%. The ex-dividend date of this dividend is Tuesday, December 23rd. LTC Properties’s dividend payout ratio is currently 125.27%.

About LTC Properties

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.