LTC Properties, Inc. (NYSE:LTC) Position Boosted by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in LTC Properties, Inc. (NYSE:LTC) by 26.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,060 shares of the real estate investment trust’s stock after purchasing an additional 3,600 shares during the period. HighTower Advisors LLC’s holdings in LTC Properties were worth $633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of LTC Properties by 2.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,897 shares of the real estate investment trust’s stock valued at $1,652,000 after buying an additional 1,331 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of LTC Properties by 11.1% during the second quarter. Nisa Investment Advisors LLC now owns 32,188 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 3,223 shares during the period. Louisiana State Employees Retirement System raised its position in shares of LTC Properties by 6.8% during the second quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of LTC Properties by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,296 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 1,207 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of LTC Properties by 180.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after purchasing an additional 30,258 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was 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 of the company’s stock, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

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

LTC Properties Stock Performance

Shares of LTC stock opened at $34.81 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 14.94 and a beta of 0.91. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.89. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock’s fifty day simple moving average is $37.47 and its 200-day simple moving average is $36.32.

LTC Properties (NYSE:LTC) last released 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). The business 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 revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. On average, sell-side analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 6.55%. LTC Properties’s dividend 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.