US Bancorp DE Sells 1,415 Shares of LTC Properties, Inc. (NYSE:LTC)

US Bancorp DE lessened its holdings in LTC Properties, Inc. (NYSE:LTC) by 19.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,790 shares of the real estate investment trust’s stock after selling 1,415 shares during the quarter. US Bancorp DE’s holdings in LTC Properties were worth $212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LTC. BNP Paribas Financial Markets increased its holdings in shares of LTC Properties by 9.8% in the 1st quarter. BNP Paribas Financial Markets now owns 20,589 shares of the real estate investment trust’s stock worth $669,000 after purchasing an additional 1,843 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of LTC Properties by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust’s stock worth $1,178,000 after buying an additional 469 shares during the last quarter. Sei Investments Co. grew its holdings in shares of LTC Properties by 2.0% in the first quarter. Sei Investments Co. now owns 28,669 shares of the real estate investment trust’s stock worth $933,000 after acquiring an additional 550 shares during the period. Russell Investments Group Ltd. lifted its holdings in LTC Properties by 1,343.2% in the first quarter. Russell Investments Group Ltd. now owns 7,447 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 6,931 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of LTC Properties by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 8,279 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 566 shares during the period. 69.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LTC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy Triche sold 5,000 shares of the firm’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 completion of the sale, the director now owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This trade represents a 12.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties Trading Down 1.1 %

Shares of LTC stock opened at $38.16 on Friday. The stock has a fifty day simple moving average of $36.87 and a two-hundred day simple moving average of $35.66. LTC Properties, Inc. has a 52-week low of $30.30 and a 52-week high of $39.89. The firm has a market capitalization of $1.73 billion, a PE ratio of 16.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.65 earnings per share. On average, analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Thursday, November 21st. LTC Properties’s payout ratio is presently 97.85%.

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.