JPMorgan Chase & Co. Acquires 82,927 Shares of LTC Properties, Inc. (NYSE:LTC)

JPMorgan Chase & Co. boosted its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,734 shares of the real estate investment trust's stock after purchasing an additional 82,927 shares during the period. JPMorgan Chase & Co. owned about 0.74% of LTC Properties worth $11,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its stake in LTC Properties by 23,470.0% during the fourth quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 2,347 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of LTC Properties by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust's stock worth $84,000 after purchasing an additional 638 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in LTC Properties by 28.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust's stock valued at $88,000 after buying an additional 565 shares during the period. FMR LLC increased its stake in shares of LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 1,653 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of LTC Properties by 4.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock worth $237,000 after buying an additional 314 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

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LTC Properties Stock Up 1.1 %

LTC traded up $0.37 on Tuesday, reaching $35.02. 296,798 shares of the company traded hands, compared to its average volume of 301,399. The stock's 50 day moving average price is $34.82 and its 200-day moving average price is $35.73. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 15.03 and a beta of 0.74. LTC Properties, Inc. has a 52-week low of $31.24 and a 52-week high of $39.89. 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 (NYSE:LTC - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. The business had revenue of $34.81 million during the quarter, compared to analysts' expectations of $45.25 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. On average, sell-side analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal 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 $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Friday, June 20th. LTC Properties's payout ratio is 111.22%.

Analyst Ratings Changes

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

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.