Geode Capital Management LLC Buys 8,351 Shares of LTC Properties, Inc. (NYSE:LTC)

Geode Capital Management LLC boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,125,020 shares of the real estate investment trust’s stock after buying an additional 8,351 shares during the period. Geode Capital Management LLC owned approximately 2.49% of LTC Properties worth $41,284,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LTC. Louisiana State Employees Retirement System increased its position in shares of LTC Properties by 6.8% during the second quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the real estate investment trust’s stock valued at $756,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LTC Properties by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,296 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 1,207 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in LTC Properties by 180.4% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after purchasing an additional 30,258 shares during the last quarter. Commonwealth Equity Services LLC grew its position in LTC Properties by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 447 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of LTC Properties by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 689 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Transactions at LTC Properties

In other news, Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the purchase, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the sale, the insider now directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties Stock Up 0.7 %

LTC opened at $34.73 on Wednesday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 14.91 and a beta of 0.91. 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 firm’s fifty day moving average is $37.44 and its 200 day moving average is $36.35. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $39.89.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analysts’ expectations 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 was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 6.56%. The ex-dividend date is Monday, December 23rd. LTC Properties’s payout ratio is currently 97.85%.

Analyst Ratings Changes

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