Sumitomo Mitsui Trust Holdings Inc. Has $1.61 Million Stake in LTC Properties, Inc. (NYSE:LTC)

Posted by Defense World Staff on Apr 22nd, 2023

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in LTC Properties, Inc. (NYSE:LTC – Get Rating) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,183 shares of the real estate investment trust’s stock after selling 3,854 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.11% of LTC Properties worth $1,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Trust Co. NA increased its position in LTC Properties by 585.2% during the 3rd quarter. Private Trust Co. NA now owns 740 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 632 shares during the period. SRS Capital Advisors Inc. acquired a new stake in LTC Properties during the 3rd quarter valued at approximately $39,000. Quadrant Capital Group LLC increased its position in LTC Properties by 282.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,047 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 773 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in LTC Properties during the 3rd quarter valued at approximately $41,000. Finally, Point72 Hong Kong Ltd acquired a new stake in LTC Properties during the 2nd quarter worth about $41,000. 72.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LTC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on LTC Properties in a report on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group decreased their price target on LTC Properties from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. Wells Fargo & Company started coverage on shares of LTC Properties in a research report on Wednesday. They set an “equal weight” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada raised their price objective on shares of LTC Properties from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.38.

LTC Properties Stock Performance

NYSE LTC opened at $34.31 on Friday. The company has a fifty day simple moving average of $34.90 and a 200 day simple moving average of $36.74. LTC Properties, Inc. has a 12-month low of $31.90 and a 12-month high of $45.49. The company has a current ratio of 13.87, a quick ratio of 13.87 and a debt-to-equity ratio of 0.90. The company has a market cap of $1.42 billion, a P/E ratio of 13.83 and a beta of 0.95.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 22nd will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, June 21st. This represents a $2.28 dividend on an annualized basis and a yield of 6.65%. LTC Properties’s dividend payout ratio (DPR) is currently 91.94%.

About LTC Properties

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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.