LTC Properties, Inc. (NYSE:LTC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of LTC Properties, Inc. (NYSE:LTC) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,545 shares of the real estate investment trust’s stock after selling 905 shares during the period. Victory Capital Management Inc.’s holdings in LTC Properties were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of LTC. Commonwealth Equity Services LLC boosted its holdings in LTC Properties by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock valued at $420,000 after acquiring an additional 447 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of LTC Properties by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust’s stock valued at $1,178,000 after purchasing an additional 469 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of LTC Properties by 78.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 529 shares in the last quarter. QRG Capital Management Inc. increased its stake in LTC Properties by 8.6% during the 2nd quarter. QRG Capital Management Inc. now owns 6,931 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 548 shares during the period. Finally, Sei Investments Co. lifted its holdings in LTC Properties by 2.0% during the 1st quarter. Sei Investments Co. now owns 28,669 shares of the real estate investment trust’s stock worth $933,000 after buying an additional 550 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity

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

LTC Properties Trading Up 2.1 %

Shares of NYSE:LTC opened at $36.77 on Tuesday. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $38.28. The company’s 50 day moving average is $36.50 and its two-hundred day moving average is $34.46. The company has a market cap of $1.60 billion, a PE ratio of 19.15 and a beta of 0.91. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88.

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

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.20%. LTC Properties’s dividend payout ratio is presently 118.75%.

LTC Properties Profile

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.