BNP Paribas Financial Markets Reduces Position in LTC Properties, Inc. (NYSE:LTC)

BNP Paribas Financial Markets cut its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,514 shares of the real estate investment trust’s stock after selling 2,712 shares during the period. BNP Paribas Financial Markets’ holdings in LTC Properties were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LTC. Harbor Capital Advisors Inc. purchased a new position in LTC Properties in the third quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. boosted its position in LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 437 shares during the last quarter. GAMMA Investing LLC boosted its position in LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 366 shares during the last quarter. FMR LLC boosted its position in LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. purchased a new position in LTC Properties in the third quarter worth about $202,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Up 0.9 %

NYSE LTC opened at $37.15 on Friday. The stock’s 50-day moving average price is $37.46 and its 200-day moving average price is $36.29. 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 company has a market capitalization of $1.68 billion, a P/E ratio of 15.94 and a beta of 0.91.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS 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 during the quarter, compared to the consensus estimate of $35.45 million. During the same period last year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts predict 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. Stockholders of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Monday, December 23rd. LTC Properties’s dividend payout ratio (DPR) is currently 97.85%.

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the purchase, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred 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 directly owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.