GAMMA Investing LLC Buys 638 Shares of LTC Properties, Inc. (NYSE:LTC)

GAMMA Investing LLC boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 35.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,443 shares of the real estate investment trust’s stock after buying an additional 638 shares during the quarter. GAMMA Investing LLC’s holdings in LTC Properties were worth $84,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties during the third quarter valued at approximately $36,000. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 worth $62,000 after purchasing an additional 437 shares in the last quarter. FMR LLC raised its position in LTC Properties by 132.7% during the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 1,653 shares in the last quarter. Community Trust & Investment Co. purchased a new stake in shares of LTC Properties in the 3rd quarter worth $202,000. Finally, Van ECK Associates Corp lifted its holdings 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 worth $265,000 after buying an additional 811 shares during the period. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LTC has been the topic of several research reports. JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, LTC Properties presently has an average rating of “Moderate Buy” and a consensus price target of $37.75.

LTC Properties Price Performance

Shares of LTC stock opened at $33.55 on Friday. The stock’s 50-day moving average is $36.80 and its 200 day moving average is $36.36. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The company has a market cap of $1.52 billion, a P/E ratio of 14.40 and a beta of 0.93.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million during 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%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. Research analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.80%. The ex-dividend date is Friday, March 21st. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Transactions at LTC Properties

In related news, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the company’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 transaction of $232,500.00. Following the transaction, the insider now owns 158,585 shares in the company, valued at $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.

About LTC Properties

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.