Deerfield Management Company L.P. Series C Boosts Stake in LTC Properties, Inc. (NYSE:LTC)

Deerfield Management Company L.P. Series C boosted its holdings in LTC Properties, Inc. (NYSE:LTC) by 155.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,439 shares of the real estate investment trust’s stock after acquiring an additional 10,621 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in LTC Properties were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 687 shares during the period. Walleye Trading LLC acquired a new stake in shares of LTC Properties in the 1st quarter worth approximately $209,000. Van ECK Associates Corp increased its stake in LTC Properties by 11.7% in the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 689 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new position in LTC Properties during the first quarter worth $232,000. Finally, Strategic Financial Concepts LLC raised its holdings in LTC Properties by 3,401.1% during the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 654,136 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.

Insider Activity at LTC Properties

In other news, Director David L. Gruber bought 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $35.75 per share, with a total value of $214,500.00. Following the purchase, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, Director David L. Gruber acquired 6,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Stock Down 1.6 %

Shares of NYSE LTC opened at $36.42 on Friday. The firm’s 50-day moving average is $36.51 and its two-hundred day moving average is $34.52. The company has a market capitalization of $1.58 billion, a PE ratio of 18.97 and a beta of 0.91. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month 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.

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). The company had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities analysts anticipate that LTC Properties, Inc. will post 2.69 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.28 annualized dividend and a dividend yield of 6.26%. LTC Properties’s dividend payout ratio is currently 118.75%.

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.