LTC Properties Inc (NYSE:LTC) Shares Sold by Comerica Bank

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Comerica Bank decreased its stake in shares of LTC Properties Inc (NYSE:LTC) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,315 shares of the real estate investment trust’s stock after selling 278 shares during the period. Comerica Bank owned approximately 0.11% of LTC Properties worth $2,240,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC acquired a new position in LTC Properties during the 2nd quarter valued at about $42,000. Steward Partners Investment Advisory LLC acquired a new position in LTC Properties during the 2nd quarter valued at about $44,000. CENTRAL TRUST Co acquired a new position in LTC Properties during the 3rd quarter valued at about $44,000. Wealthcare Advisory Partners LLC increased its stake in LTC Properties by 344.4% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 951 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 737 shares during the period. Finally, C M Bidwell & Associates Ltd. increased its stake in LTC Properties by 17.8% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,520 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 230 shares during the period. 75.93% of the stock is currently owned by hedge funds and other institutional investors.

In other LTC Properties news, CEO Wendy Simpson sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $49.20, for a total value of $344,400.00. Following the completion of the transaction, the chief executive officer now directly owns 379,365 shares in the company, valued at $18,664,758. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Several equities analysts have commented on the stock. Capital One Financial cut shares of LTC Properties from an “overweight” rating to an “equal weight” rating and set a $51.00 target price on the stock. in a research note on Friday, October 25th. Berenberg Bank began coverage on shares of LTC Properties in a research note on Thursday, September 12th. They issued a “hold” rating and a $49.00 price objective on the stock. Finally, Zacks Investment Research raised shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $42.00.

Shares of LTC opened at $46.16 on Thursday. The firm’s 50 day moving average is $50.61 and its 200-day moving average is $47.81. The stock has a market capitalization of $1.84 billion, a P/E ratio of 15.08, a P/E/G ratio of 3.82 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 10.06 and a quick ratio of 10.06. LTC Properties Inc has a 12-month low of $40.11 and a 12-month high of $53.04.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.09). The business had revenue of $38.67 million during the quarter, compared to analyst estimates of $38.94 million. LTC Properties had a return on equity of 12.33% and a net margin of 57.14%. As a group, equities research analysts forecast that LTC Properties Inc will post 3.04 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. LTC Properties’s payout ratio is 74.51%.

About LTC Properties

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 holds more than 200 investments in 28 states with 30 operating partners.

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Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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