Stifel Financial Corp Takes Position in LTC Properties, Inc. (NYSE:LTC)

Stifel Financial Corp purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,717 shares of the real estate investment trust’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LTC. Principal Financial Group Inc. grew its stake in shares of LTC Properties by 6.9% in the 3rd quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock worth $8,408,000 after acquiring an additional 14,778 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in LTC Properties by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock worth $27,683,000 after purchasing an additional 30,422 shares during the last quarter. Intech Investment Management LLC bought a new stake in LTC Properties in the 3rd quarter worth about $679,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in LTC Properties by 312.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock valued at $12,187,000 after buying an additional 251,609 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of LTC Properties by 26.7% during the 3rd quarter. HighTower Advisors LLC now owns 17,060 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 3,600 shares in the last quarter. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Stock Down 0.8 %

LTC opened at $34.42 on Friday. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $39.89. The company’s 50-day moving average price is $37.32 and its two-hundred day moving average price is $36.34. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 14.77 and a beta of 0.91. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to the consensus estimate 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 company posted $0.65 earnings per share. As a group, equities analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend is Monday, December 23rd. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Buying and Selling at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now 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 document filed with the SEC, which is available at the SEC website. Also, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the acquisition, the director now owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LTC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties 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.