LTC Properties, Inc. (NYSE:LTC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in LTC Properties, Inc. (NYSE:LTC) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,861 shares of the real estate investment trust’s stock after selling 1,183 shares during the quarter. Franklin Resources Inc.’s holdings in LTC Properties were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties during the third quarter valued at about $36,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 worth $62,000 after acquiring an additional 437 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 valued at $66,000 after acquiring an additional 366 shares in the last quarter. FMR LLC increased its stake in shares of LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,653 shares during the period. Finally, Community Trust & Investment Co. bought a new stake in shares of LTC Properties in the 3rd quarter worth $202,000. Institutional investors own 69.25% of the company’s stock.

LTC Properties Price Performance

Shares of NYSE:LTC opened at $34.44 on Tuesday. 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 company has a market capitalization of $1.56 billion, a PE ratio of 14.78 and a beta of 0.91. The stock has a fifty day moving average of $37.29 and a 200-day moving average of $36.38. LTC Properties, Inc. has a one year low of $30.30 and a one year high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results 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 analyst estimates of $35.45 million. During the same period last year, the business earned $0.65 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 6.62%. The ex-dividend date is Monday, December 23rd. LTC Properties’s dividend payout ratio is 97.85%.

Insider Activity

In other news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

LTC has been the topic of a number of research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective 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.