Cubist Systematic Strategies LLC Sells 43,271 Shares of LTC Properties, Inc. (NYSE:LTC)

Cubist Systematic Strategies LLC trimmed its holdings in LTC Properties, Inc. (NYSE:LTC) by 52.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 39,687 shares of the real estate investment trust’s stock after selling 43,271 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in LTC Properties were worth $1,371,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LTC. Barclays PLC grew its stake in shares of LTC Properties by 148.8% during the 3rd quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust’s stock valued at $3,228,000 after purchasing an additional 52,619 shares during the period. JPMorgan Chase & Co. grew its stake in shares of LTC Properties by 80.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock valued at $9,312,000 after purchasing an additional 113,100 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of LTC Properties by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 48,430 shares of the real estate investment trust’s stock valued at $1,673,000 after purchasing an additional 1,987 shares during the period. Ausbil Investment Management Ltd bought a new stake in shares of LTC Properties during the 4th quarter valued at about $334,000. Finally, abrdn plc grew its stake in shares of LTC Properties by 1.1% during the 4th quarter. abrdn plc now owns 241,376 shares of the real estate investment trust’s stock valued at $8,313,000 after purchasing an additional 2,583 shares during the period. 69.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their price target on LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, March 10th.

LTC Properties Trading Down 0.1%

Shares of NYSE:LTC opened at $35.45 on Wednesday. The stock has a 50 day moving average of $35.18 and a 200 day moving average of $35.68. The company has a market cap of $1.63 billion, a PE ratio of 15.21 and a beta of 0.68. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.43%. LTC Properties’s dividend payout ratio (DPR) is presently 117.53%.

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.