Raymond James Financial Inc. Invests $464,000 in LTC Properties, Inc. (NYSE:LTC)

Raymond James Financial Inc. purchased a new stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,425 shares of the real estate investment trust's stock, valued at approximately $464,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of LTC Properties by 148.8% in the third quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust's stock valued at $3,228,000 after buying an additional 52,619 shares in the last quarter. JPMorgan Chase & Co. grew its position in LTC Properties by 80.4% in the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust's stock valued at $9,312,000 after acquiring an additional 113,100 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of LTC Properties by 6.9% during the third quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust's stock valued at $8,408,000 after purchasing an additional 14,778 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of LTC Properties during the fourth quarter worth $250,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of LTC Properties by 6.1% in the fourth quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust's stock valued at $33,260,000 after purchasing an additional 55,254 shares during the period. Hedge funds and other institutional investors own 69.25% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citizens Jmp raised shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their price objective 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 Stock Performance

Shares of LTC traded up $0.40 during mid-day trading on Friday, hitting $34.10. The company's stock had a trading volume of 314,459 shares, compared to its average volume of 300,691. The stock's 50-day moving average is $34.81 and its two-hundred day moving average is $35.74. The firm has a market capitalization of $1.56 billion, a PE ratio of 14.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties, Inc. has a one year low of $31.24 and a one year high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. As a group, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently declared 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 of this dividend is Friday, June 20th. This represents a $2.28 annualized dividend and a yield of 6.69%. LTC Properties's dividend payout ratio is 111.22%.

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.