The Manufacturers Life Insurance Company Increases Holdings in LTC Properties, Inc. (NYSE:LTC)

The Manufacturers Life Insurance Company grew its holdings in LTC Properties, Inc. (NYSE:LTC) by 5.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,311 shares of the real estate investment trust’s stock after acquiring an additional 1,037 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LTC Properties were worth $735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in LTC Properties by 3.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock worth $9,877,000 after purchasing an additional 9,221 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in LTC Properties by 9.8% in the first quarter. BNP Paribas Financial Markets now owns 20,589 shares of the real estate investment trust’s stock valued at $669,000 after acquiring an additional 1,843 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of LTC Properties by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 13,469 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 887 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of LTC Properties by 70.8% during the first quarter. GSA Capital Partners LLP now owns 16,510 shares of the real estate investment trust’s stock worth $537,000 after purchasing an additional 6,846 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of LTC Properties by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust’s stock valued at $1,178,000 after purchasing an additional 469 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

LTC has been the topic of several research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.

LTC Properties Stock Up 0.1 %

LTC opened at $35.61 on Tuesday. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $38.28. The business has a 50 day moving average price of $36.33 and a two-hundred day moving average price of $34.83. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88. The company has a market cap of $1.55 billion, a PE ratio of 18.55 and a beta of 0.91.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The firm had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. During the same quarter last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that LTC Properties, Inc. will post 2.69 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a yield of 6.40%. The ex-dividend date is Thursday, November 21st. LTC Properties’s payout ratio is 118.75%.

Insider Transactions at LTC Properties

In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares in the company, valued at $658,229. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David L. Gruber acquired 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the transaction, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.