AQR Capital Management LLC Has $909,000 Stock Position in LTC Properties, Inc. (NYSE:LTC)

AQR Capital Management LLC trimmed its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 52.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,334 shares of the real estate investment trust's stock after selling 29,372 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of LTC Properties worth $909,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in LTC Properties by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust's stock worth $217,667,000 after purchasing an additional 91,963 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of LTC Properties by 3,401.1% in the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust's stock worth $232,000 after buying an additional 654,136 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LTC Properties by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust's stock worth $21,180,000 after buying an additional 31,980 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of LTC Properties by 3.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust's stock valued at $9,877,000 after buying an additional 9,221 shares during the period. Finally, Rhumbline Advisers grew its position in shares of LTC Properties by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 142,896 shares of the real estate investment trust's stock valued at $4,930,000 after buying an additional 4,516 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David L. Gruber purchased 6,000 shares of the company's stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the transaction, the director now owns 18,412 shares of the company's stock, valued at $658,229. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director David L. Gruber acquired 6,000 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now owns 18,412 shares of the company's stock, valued at approximately $658,229. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Triche sold 5,000 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now directly owns 34,522 shares of the company's stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LTC. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reiterated an "equal weight" rating and set a $37.00 price target (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

LTC Properties Stock Performance

NYSE:LTC traded up $0.22 during mid-day trading on Friday, hitting $35.58. The stock had a trading volume of 170,330 shares, compared to its average volume of 281,713. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The company has a 50 day simple moving average of $36.33 and a 200-day simple moving average of $34.83. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.53 and a beta of 0.91. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $38.28.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. During the same period last year, the firm posted $0.66 EPS. The business's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that LTC Properties, Inc. will post 2.69 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 6.41%. LTC Properties's payout ratio is 118.75%.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.