AQR Capital Management LLC Sells 29,372 Shares of LTC Properties, Inc. (NYSE:LTC)

AQR Capital Management LLC decreased its position in LTC Properties, Inc. (NYSE:LTC) by 52.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,334 shares of the real estate investment trust’s stock after selling 29,372 shares during the quarter. AQR Capital Management LLC’s holdings in LTC Properties were worth $909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LTC. GAMMA Investing LLC increased its holdings in LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 687 shares during the period. Walleye Trading LLC purchased a new position in shares of LTC Properties during the first quarter valued at approximately $209,000. Van ECK Associates Corp raised its holdings in shares of LTC Properties by 11.7% during the second quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 689 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in LTC Properties in the first quarter worth $232,000. Finally, Strategic Financial Concepts LLC boosted its holdings in LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 654,136 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LTC has been the subject of several research reports. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

Insider Buying and Selling

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other LTC Properties news, 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 transaction of $182,250.00. Following the completion of the sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Gruber bought 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $35.75 per share, for a total transaction 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 position. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.

LTC Properties Price Performance

LTC opened at $35.58 on Friday. 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 market cap of $1.55 billion, a price-to-earnings ratio of 18.53 and a beta of 0.91. The stock has a fifty day simple moving average of $36.33 and a two-hundred day simple moving average of $34.81. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business had revenue of $50.12 million during the quarter, compared to the consensus estimate of $33.47 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Research analysts predict that LTC Properties, Inc. will post 2.69 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.19 per share. The ex-dividend date 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%.

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's investment portfolio includes 201 properties in 26 states with 29 operating partners.