State Street Corp Raises Stake in LTC Properties, Inc. (NYSE:LTC)

State Street Corp boosted its holdings in LTC Properties, Inc. (NYSE:LTC) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,305,037 shares of the real estate investment trust’s stock after buying an additional 181,973 shares during the period. State Street Corp owned approximately 0.07% of LTC Properties worth $121,262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Stifel Financial Corp acquired a new stake in shares of LTC Properties in the third quarter worth $283,000. Heitman Real Estate Securities LLC acquired a new stake in LTC Properties in the 3rd quarter valued at $896,000. HighTower Advisors LLC raised its position in LTC Properties by 26.7% in the third quarter. HighTower Advisors LLC now owns 17,060 shares of the real estate investment trust’s stock valued at $633,000 after purchasing an additional 3,600 shares during the period. Edgestream Partners L.P. acquired a new position in shares of LTC Properties during the third quarter worth about $2,717,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of LTC Properties by 312.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock worth $12,187,000 after buying an additional 251,609 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

LTC Properties Stock Up 0.9 %

Shares of NYSE LTC opened at $37.15 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The stock’s 50-day simple moving average is $37.46 and its 200-day simple moving average is $36.29. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 15.94 and a beta of 0.91.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. LTC Properties’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 firm earned $0.65 earnings per share. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid 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 97.85%.

Insiders Place Their Bets

In other news, Director David L. Gruber bought 3,000 shares of LTC Properties 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 acquisition, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.