Intech Investment Management LLC Purchases Shares of 18,498 LTC Properties, Inc. (NYSE:LTC)

Intech Investment Management LLC acquired a new position in shares of LTC Properties, Inc. (NYSE:LTC) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,498 shares of the real estate investment trust’s stock, valued at approximately $679,000.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted 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 purchasing an additional 14,778 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position 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 worth $1,623,000 after buying an additional 30,258 shares during the period. abrdn plc lifted its stake in 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 buying an additional 48,869 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of LTC Properties in the first quarter valued at approximately $276,000. Finally, Strategic Financial Concepts LLC grew its position in shares of LTC Properties by 3,401.1% during the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 654,136 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Trading Down 0.3 %

NYSE:LTC opened at $38.59 on Friday. The stock has a fifty day moving average price of $37.24 and a two-hundred day moving average price of $36.07. 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 stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.56 and a beta of 0.90. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend is Monday, December 23rd. LTC Properties’s payout ratio is currently 97.85%.

Insider Buying and Selling

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LTC shares. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Company 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.