Principal Financial Group Inc. Acquires 17,487 Shares of LTC Properties, Inc. (NYSE:LTC)

Principal Financial Group Inc. grew its holdings in LTC Properties, Inc. (NYSE:LTC) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,663 shares of the real estate investment trust’s stock after acquiring an additional 17,487 shares during the quarter. Principal Financial Group Inc. owned 0.54% of LTC Properties worth $8,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LTC. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 valued at $62,000 after acquiring an additional 437 shares during the period. abrdn plc boosted its position in shares of LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after acquiring 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 third 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 acquiring an additional 375 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties in the third quarter valued at approximately $36,000. Finally, Van ECK Associates Corp boosted its position in shares of LTC Properties by 12.3% in the third quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust’s stock valued at $265,000 after acquiring an additional 811 shares during the period. 69.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. 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 report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th.

Insider Buying and Selling

In other news, Director David L. Gruber acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $34.89 on Friday. LTC Properties, Inc. has a twelve month low of $31.14 and a twelve month high of $39.89. The firm has a market cap of $1.58 billion, a PE ratio of 14.97 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. The business has a fifty day moving average of $34.43 and a 200-day moving average of $36.08.

LTC Properties (NYSE:LTC) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $34.81 million during the quarter, compared to analyst estimates of $45.25 million. On average, equities research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently disclosed a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be given a $0.19 dividend. The ex-dividend date is Friday, March 21st. This represents a yield of 6.45%. LTC Properties’s payout ratio is 111.22%.

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.