Victory Capital Management Inc. Lowers Stock Position in LTC Properties, Inc. (NYSE:LTC)

Victory Capital Management Inc. reduced its holdings in LTC Properties, Inc. (NYSE:LTC) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,545 shares of the real estate investment trust’s stock after selling 905 shares during the quarter. Victory Capital Management Inc.’s holdings in LTC Properties were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LTC. Vanguard Group Inc. lifted its holdings in LTC Properties by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after acquiring an additional 91,963 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in LTC Properties by 3.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock valued at $9,877,000 after buying an additional 9,221 shares in the last quarter. Norges Bank acquired a new stake in shares of LTC Properties during the 4th quarter valued at approximately $8,609,000. Rhumbline Advisers boosted its stake in shares of LTC Properties by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 142,896 shares of the real estate investment trust’s stock worth $4,930,000 after acquiring an additional 4,516 shares in the last quarter. Finally, Trillium Asset Management LLC grew its holdings in shares of LTC Properties by 3.9% in the 1st quarter. Trillium Asset Management LLC now owns 110,519 shares of the real estate investment trust’s stock worth $3,593,000 after acquiring an additional 4,171 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Trading Up 2.1 %

Shares of LTC Properties stock opened at $36.77 on Tuesday. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.88, a current ratio of 11.29 and a quick ratio of 11.29. The business has a 50 day moving average price of $36.50 and a 200 day moving average price of $34.46. The company has a market capitalization of $1.60 billion, a P/E ratio of 19.15 and a beta of 0.91.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The company had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that LTC Properties, Inc. will post 2.69 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Friday, September 20th. LTC Properties’s dividend payout ratio is presently 118.75%.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director David L. Gruber purchased 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares in the company, valued at approximately $658,229. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.