Millennium Management LLC Increases Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Millennium Management LLC boosted its stake in LTC Properties, Inc. (NYSE:LTC) by 33.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,188 shares of the real estate investment trust’s stock after acquiring an additional 28,039 shares during the quarter. Millennium Management LLC owned about 0.26% of LTC Properties worth $3,836,000 at the end of the most recent reporting period.

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

LTC Properties Trading Up 0.6 %

NYSE:LTC opened at $35.58 on Monday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 18.53 and a beta of 0.91. The business has a 50 day simple moving average of $36.33 and a 200 day simple moving average of $34.83. 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, Inc. has a 12-month low of $30.30 and a 12-month high of $38.28.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results 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 firm had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. During the same period last year, the firm posted $0.66 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that LTC Properties, Inc. will post 2.69 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.41%. The ex-dividend date is Thursday, November 21st. LTC Properties’s dividend payout ratio (DPR) is 118.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LTC shares. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 price target (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David L. Gruber acquired 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $35.75 per share, with a total value of $214,500.00. Following the acquisition, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David L. Gruber acquired 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the acquisition, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.