Sumitomo Mitsui Trust Group Inc. Trims Stock Position in LTC Properties, Inc. (NYSE:LTC)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 47,345 shares of the real estate investment trust’s stock after selling 552 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of LTC Properties worth $1,737,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of LTC Properties in the 3rd quarter valued at about $36,000. GAMMA Investing LLC increased its stake in shares of LTC Properties by 91.4% in the 2nd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LTC Properties by 35.0% in the 3rd 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 in the last quarter. Community Trust & Investment Co. purchased a new position in shares of LTC Properties in the 3rd quarter valued at about $202,000. Finally, Walleye Trading LLC purchased a new position in shares of LTC Properties in the 1st quarter valued at about $209,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analyst Ratings Changes

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

LTC Properties Trading Up 1.4 %

LTC stock opened at $38.57 on Wednesday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $39.89. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 16.55 and a beta of 0.90. The business’s 50-day moving average is $36.99 and its 200 day moving average is $35.82.

LTC Properties (NYSE:LTC) last issued its earnings results 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 company had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. On average, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Thursday, November 21st. LTC Properties’s dividend payout ratio is currently 97.85%.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of LTC Properties 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 sale, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties 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 directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The trade was a 12.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties 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.