LTC Properties, Inc. (NYSE:LTC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 80.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,807 shares of the real estate investment trust’s stock after acquiring an additional 113,100 shares during the period. JPMorgan Chase & Co. owned about 0.56% of LTC Properties worth $9,312,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LTC. Harbor Capital Advisors Inc. bought a new position in shares of LTC Properties during the third quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 acquiring an additional 437 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 366 shares during the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. bought a new position in LTC Properties in the third quarter worth about $202,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LTC has been the topic of a number of recent research reports. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 7th. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 target price (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 target price on shares of LTC Properties in a report on Friday, September 20th. Finally, Citizens Jmp raised shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.75.

Insider Activity

In related news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction dated Thursday, November 7th. The stock was 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. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David L. Gruber bought 3,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Trading Up 1.6 %

NYSE:LTC opened at $34.04 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 14.61 and a beta of 0.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The business has a fifty day moving average of $36.80 and a 200-day moving average of $36.40.

LTC Properties (NYSE:LTC) last issued its quarterly 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). The business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. LTC Properties’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. Equities analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date is Friday, March 21st. LTC Properties’s dividend payout ratio (DPR) is 97.85%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.