Apollon Wealth Management LLC Acquires New Stake in LTC Properties, Inc. (NYSE:LTC)

Apollon Wealth Management LLC bought a new position in LTC Properties, Inc. (NYSE:LTC) in the fourth quarter, Holdings Channel.com reports. The fund bought 20,823 shares of the real estate investment trust’s stock, valued at approximately $719,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties in the 3rd quarter worth $36,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 437 shares during the period. GAMMA Investing LLC raised its position in LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 366 shares in the last quarter. FMR LLC lifted its holdings in LTC Properties by 132.7% in the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,653 shares during the last quarter. Finally, Community Trust & Investment Co. bought a new position in shares of LTC Properties during the 3rd quarter valued at about $202,000. 69.25% of the stock is owned by institutional investors.

LTC Properties Price Performance

NYSE LTC opened at $33.73 on Thursday. 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 1 year low of $30.35 and a 1 year high of $39.89. The company has a market cap of $1.53 billion, a PE ratio of 14.48 and a beta of 0.93. The stock’s 50-day moving average price is $34.91 and its two-hundred day moving average price is $36.19.

LTC Properties Dividend Announcement

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 given a $0.19 dividend. The ex-dividend date is Thursday, February 20th. This represents a dividend yield of 6.45%. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

Wall Street Analyst Weigh In

LTC has been the topic of a number of research reports. JMP Securities upgraded shares of LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 7th. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th.

Insider Buying and Selling

In other LTC Properties news, Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the transaction, 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 can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

LTC Properties Company 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.