LTC Properties, Inc. (NYSE:LTC) Shares Acquired by Fmr LLC

Fmr LLC increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 132.7% in the third quarter, Holdings Channel reports. The firm owned 2,899 shares of the real estate investment trust’s stock after acquiring an additional 1,653 shares during the period. Fmr LLC’s holdings in LTC Properties were worth $106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Independent Advisor Alliance boosted its holdings 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 purchasing an additional 1,381 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in LTC Properties by 6.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,497 shares of the real estate investment trust’s stock worth $532,000 after buying an additional 849 shares in the last quarter. Penserra Capital Management LLC lifted its holdings 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 worth $1,043,000 after purchasing an additional 5,270 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of LTC Properties by 4.2% during 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 shares of LTC Properties in the third quarter valued at $679,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $6,145,168.75. This represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber bought 3,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties Stock Down 1.7 %

Shares of LTC opened at $34.49 on Tuesday. The business’s fifty day moving average price is $37.44 and its two-hundred day moving average price is $36.35. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.89. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.80 and a beta of 0.91. 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 (NYSE:LTC) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date is Monday, December 23rd. LTC Properties’s payout ratio is presently 97.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LTC. Wedbush reiterated an “outperform” rating and set 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 from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st.

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.