LTC Properties (NYSE:LTC) Trading Down 2.5%

LTC Properties, Inc. (NYSE:LTC)’s stock price dropped 2.5% on Thursday . The company traded as low as $36.33 and last traded at $36.36. Approximately 152,548 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 279,104 shares. The stock had previously closed at $37.31.

Analysts Set New Price Targets

Separately, Wedbush reiterated an “outperform” rating and set a $40.00 price objective on shares of LTC Properties in a research note on Friday.

LTC Properties Price Performance

The firm has a market capitalization of $1.57 billion, a P/E ratio of 18.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. The stock’s fifty day simple moving average is $36.49 and its 200 day simple moving average is $34.39.

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

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Friday, September 20th. LTC Properties’s payout ratio is currently 118.75%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of LTC Properties stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LTC Properties

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its stake in shares of LTC Properties by 78.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 529 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 worth $50,000 after purchasing an additional 687 shares during the period. Principal Securities Inc. acquired a new stake in shares of LTC Properties during the 4th quarter worth approximately $58,000. Walleye Trading LLC acquired a new stake in shares of LTC Properties during the 1st quarter worth approximately $209,000. Finally, Van ECK Associates Corp grew its stake in shares of LTC Properties by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 689 shares during the period. 69.25% of the stock is owned by hedge funds and other institutional investors.

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.