Mutual of America Capital Management LLC Sells 603 Shares of LTC Properties, Inc. (NYSE:LTC)

Mutual of America Capital Management LLC decreased its position in LTC Properties, Inc. (NYSE:LTC) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,542 shares of the real estate investment trust’s stock after selling 603 shares during the quarter. Mutual of America Capital Management LLC’s holdings in LTC Properties were worth $240,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of LTC Properties by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after purchasing an additional 91,963 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 654,136 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LTC Properties by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after purchasing an additional 31,980 shares in the last quarter. abrdn plc raised its holdings in shares of LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after purchasing an additional 48,869 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of LTC Properties by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock valued at $8,408,000 after acquiring an additional 14,778 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

Insider Activity

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the sale, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

LTC Properties Trading Down 0.5 %

Shares of LTC opened at $38.70 on Friday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 16.61 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. The business’s fifty day moving average is $37.14 and its 200-day moving average is $36.01. LTC Properties, Inc. has a 52-week low of $30.30 and a 52-week high of $39.89.

LTC Properties (NYSE:LTC) last issued 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. During the same quarter last year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 23rd. This represents a $2.28 annualized dividend and a dividend yield of 5.89%. LTC Properties’s payout ratio is 97.85%.

Wall Street Analyst Weigh In

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

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.