Thrivent Financial for Lutherans Decreases Stake in LTC Properties, Inc. (NYSE:LTC)

Thrivent Financial for Lutherans cut its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,153 shares of the real estate investment trust’s stock after selling 1,938 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of LTC Properties worth $1,253,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of LTC Properties during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC boosted its stake in LTC Properties by 91.4% during the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 687 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares in the last quarter. Community Trust & Investment Co. acquired a new stake in shares of LTC Properties in the 3rd quarter worth $202,000. Finally, Walleye Trading LLC purchased a new position in shares of LTC Properties during the 1st quarter worth $209,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Performance

Shares of LTC Properties stock opened at $38.59 on Monday. The firm has a market cap of $1.75 billion, a PE ratio of 16.56 and a beta of 0.90. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.89. The business’s fifty day simple moving average is $37.24 and its 200-day simple moving average is $36.08.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 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 company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the company earned $0.65 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.

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.