LTC Properties, Inc. (NYSE:LTC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in LTC Properties, Inc. (NYSE:LTC) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of LTC Properties by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after purchasing an additional 91,963 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 654,136 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of LTC Properties by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock worth $21,180,000 after acquiring an additional 31,980 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of LTC Properties by 3.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock valued at $9,877,000 after acquiring an additional 9,221 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of LTC Properties by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 142,896 shares of the real estate investment trust’s stock valued at $4,930,000 after acquiring an additional 4,516 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

LTC Properties Price Performance

Shares of LTC stock opened at $35.61 on Tuesday. The firm has a fifty day simple moving average of $36.33 and a 200-day simple moving average of $34.83. The company has a market capitalization of $1.55 billion, a PE ratio of 18.55 and a beta of 0.91. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $38.28. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88.

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). The firm had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. Equities research analysts anticipate that LTC Properties, Inc. will post 2.69 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

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

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.