Allspring Global Investments Holdings LLC Acquires New Position in LTC Properties, Inc. (NYSE:LTC)

Allspring Global Investments Holdings LLC acquired a new stake in LTC Properties, Inc. (NYSE:LTC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,864 shares of the real estate investment trust’s stock, valued at approximately $894,000. Allspring Global Investments Holdings LLC owned approximately 0.06% of LTC Properties as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $62,000 after purchasing an additional 437 shares during the period. abrdn plc boosted its position in shares of LTC Properties by 25.7% in the 3rd quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after purchasing an additional 48,869 shares during the period. New York State Teachers Retirement System boosted its position in shares of LTC Properties by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 375 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of LTC Properties in the 3rd quarter valued at about $36,000. Finally, Van ECK Associates Corp boosted its position in shares of LTC Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 811 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LTC shares. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Tuesday, January 7th.

LTC Properties Stock Performance

Shares of LTC stock opened at $34.44 on Monday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 14.78 and a beta of 0.93. The stock has a 50 day simple moving average of $34.52 and a 200-day simple moving average of $36.13. LTC Properties, Inc. has a 12-month low of $31.14 and a 12-month 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.

LTC Properties Announces Dividend

The company also recently declared a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be issued a $0.19 dividend. This represents a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, March 21st. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Buying and Selling

In other news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. The trade was a 16.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

LTC Properties 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.