LTC Properties, Inc. (NYSE:LTC) Shares Acquired by abrdn plc

abrdn plc boosted its position in LTC Properties, Inc. (NYSE:LTC) by 25.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,793 shares of the real estate investment trust’s stock after purchasing an additional 48,869 shares during the period. abrdn plc’s holdings in LTC Properties were worth $8,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in LTC Properties by 91.4% in the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 687 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $62,000 after purchasing an additional 437 shares during the period. Community Trust & Investment Co. acquired a new stake in LTC Properties in the third quarter valued at about $202,000. Walleye Trading LLC purchased a new position in LTC Properties in the first quarter valued at about $209,000. Finally, Van ECK Associates Corp increased its holdings in LTC Properties by 11.7% in the second 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 in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Insider Transactions at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

LTC has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. 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.

LTC Properties Trading Down 2.4 %

Shares of LTC opened at $37.30 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.29. The firm has a 50 day simple moving average of $36.53 and a 200-day simple moving average of $35.27. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.64. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 16.01 and a beta of 0.90.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data 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). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same period last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts forecast that LTC Properties, Inc. will post 2.74 EPS 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. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.11%. LTC Properties’s dividend payout ratio (DPR) is 97.85%.

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.