Legal & General Group Plc Sells 12,637 Shares of LTC Properties, Inc. (NYSE:LTC)

Legal & General Group Plc decreased its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,262 shares of the real estate investment trust's stock after selling 12,637 shares during the period. Legal & General Group Plc owned 0.66% of LTC Properties worth $10,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its stake in LTC Properties by 4.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 6,856 shares of the real estate investment trust's stock valued at $237,000 after buying an additional 314 shares in the last quarter. Amalgamated Bank grew its position in LTC Properties by 2.5% in the fourth quarter. Amalgamated Bank now owns 13,135 shares of the real estate investment trust's stock worth $454,000 after buying an additional 315 shares during the last quarter. Bridge City Capital LLC lifted its position in shares of LTC Properties by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 44,481 shares of the real estate investment trust's stock valued at $1,537,000 after acquiring an additional 391 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of LTC Properties by 3.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,638 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 400 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of LTC Properties by 3.4% in the fourth quarter. American Century Companies Inc. now owns 16,821 shares of the real estate investment trust's stock worth $581,000 after acquiring an additional 550 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

LTC Properties Stock Down 1.2 %

NYSE:LTC traded down $0.42 during trading hours on Monday, reaching $35.33. 158,058 shares of the stock were exchanged, compared to its average volume of 301,905. The firm has a 50 day moving average of $34.93 and a 200 day moving average of $35.70. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month 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. The stock has a market cap of $1.62 billion, a PE ratio of 15.16 and a beta of 0.74.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $34.81 million for the quarter, compared to the consensus estimate of $45.25 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. On average, equities analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Friday, June 20th. LTC Properties's dividend payout ratio is presently 111.22%.

Wall Street Analyst Weigh In

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

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.