State of Alaska Department of Revenue Has $1.63 Million Stake in LTC Properties, Inc. (NYSE:LTC)

State of Alaska Department of Revenue lifted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,131 shares of the real estate investment trust’s stock after purchasing an additional 1,949 shares during the quarter. State of Alaska Department of Revenue owned 0.10% of LTC Properties worth $1,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LTC. abrdn plc boosted its stake in LTC Properties by 1.1% in the 4th quarter. abrdn plc now owns 241,376 shares of the real estate investment trust’s stock worth $8,313,000 after purchasing an additional 2,583 shares during the period. Ausbil Investment Management Ltd bought a new position in shares of LTC Properties during the 4th quarter worth approximately $334,000. Exchange Traded Concepts LLC raised its holdings in shares of LTC Properties by 4.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 48,430 shares of the real estate investment trust’s stock valued at $1,673,000 after purchasing an additional 1,987 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of LTC Properties by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 638 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in LTC Properties by 80.4% during the third quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock worth $9,312,000 after purchasing an additional 113,100 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Stock Performance

NYSE LTC opened at $34.01 on Wednesday. The firm has a 50-day moving average of $35.00 and a 200-day moving average of $36.21. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock has a market cap of $1.54 billion, a PE ratio of 14.60 and a beta of 0.93. LTC Properties, Inc. has a 52-week low of $30.35 and a 52-week high of $39.89.

LTC Properties Announces Dividend

The company also recently declared a jan 25 dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 20th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, February 20th. This represents a yield of 6.45%. LTC Properties’s payout ratio is currently 97.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LTC shares. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities raised shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, January 7th.

Insider Activity at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was purchased 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 of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.