Commonwealth Equity Services LLC Buys 447 Shares of LTC Properties, Inc. (NYSE:LTC)

Commonwealth Equity Services LLC lifted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,178 shares of the real estate investment trust’s stock after acquiring an additional 447 shares during the quarter. Commonwealth Equity Services LLC’s holdings in LTC Properties were worth $420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in LTC Properties by 180.4% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after acquiring an additional 30,258 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in LTC Properties by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,296 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 1,207 shares during the period. Louisiana State Employees Retirement System lifted its holdings in LTC Properties by 6.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 1,400 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in LTC Properties by 11.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 32,188 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 3,223 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in LTC Properties by 2.9% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,897 shares of the real estate investment trust’s stock valued at $1,652,000 after buying an additional 1,331 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Down 1.4 %

Shares of LTC opened at $36.00 on Monday. The firm has a fifty day moving average price of $36.49 and a 200-day moving average price of $34.42. 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 firm has a market capitalization of $1.57 billion, a P/E ratio of 18.75 and a beta of 0.91. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (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 analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts expect that LTC Properties, Inc. will post 2.69 earnings per share for the current year.

LTC Properties Dividend Announcement

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

Insider Buying and Selling at LTC Properties

In other news, Director David L. Gruber bought 6,000 shares of LTC Properties stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the acquisition, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction dated 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 approximately $1,258,326.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber purchased 6,000 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, with a total value of $214,500.00. Following the acquisition, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

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

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.