FMR Corp. Lowers Its Stake in LTC Properties
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FMR Corp., the parent of the Fidelity group of mutual funds, has lowered its stake in LTC Properties Inc. to 11.4% of the Oxnard-based company, from 12.4%.
In a filing with the Securities and Exchange Commission, FMR said certain of its funds sold shares between Jan. 27 and Feb. 25 at prices ranging from $10.63 to $11.06 a share.
FMR now holds 912,170 shares of LTC, the filing stated.
LTC is a real estate investment trust that invests primarily in nursing homes.
The trust had its initial public stock offering in August.
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