The Manufacturers Life Insurance Company Has $768,000 Holdings in LTC Properties, Inc. (NYSE:LTC)

The Manufacturers Life Insurance Company lessened its position in LTC Properties, Inc. (NYSE:LTC) by 1.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 20,923 shares of the real estate investment trust’s stock after selling 388 shares during the period. The Manufacturers Life Insurance Company’s holdings in LTC Properties were worth $768,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance grew its stake in LTC Properties by 2.5% in the third quarter. Independent Advisor Alliance now owns 55,890 shares of the real estate investment trust’s stock valued at $2,051,000 after acquiring an additional 1,381 shares during the period. Daiwa Securities Group Inc. grew its stake in LTC Properties by 6.2% in the third quarter. Daiwa Securities Group Inc. now owns 14,497 shares of the real estate investment trust’s stock valued at $532,000 after acquiring an additional 849 shares during the period. Penserra Capital Management LLC grew its stake in LTC Properties by 22.7% in the third quarter. Penserra Capital Management LLC now owns 28,439 shares of the real estate investment trust’s stock valued at $1,043,000 after acquiring an additional 5,270 shares during the period. Charles Schwab Investment Management Inc. grew its stake in LTC Properties by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in LTC Properties in the third quarter valued at approximately $679,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

LTC Properties Stock Up 0.9 %

LTC stock opened at $37.15 on Friday. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $39.89. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $37.46 and its 200-day moving average is $36.27. The firm has a market capitalization of $1.68 billion, a PE ratio of 15.94 and a beta of 0.91.

LTC Properties (NYSE:LTC) last posted its 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Sell-side analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a yield of 6.14%. LTC Properties’s dividend payout ratio (DPR) is currently 97.85%.

Insider Buying and Selling

In other LTC Properties news, Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the acquisition, the director now owns 21,516 shares of the company’s stock, valued at $799,534.56. The trade was a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Company 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.