QRG Capital Management Inc. Grows Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

QRG Capital Management Inc. lifted its position in shares of LTC Properties, Inc. (NYSE:LTC) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,148 shares of the real estate investment trust’s stock after purchasing an additional 1,217 shares during the period. QRG Capital Management Inc.’s holdings in LTC Properties were worth $299,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its position in LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 654,136 shares during the period. Vanguard Group Inc. increased its position in shares of LTC Properties by 1.4% during 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 buying an additional 91,963 shares during the period. abrdn plc raised its stake in LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock worth $8,761,000 after buying an additional 48,869 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in LTC Properties by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock worth $21,180,000 after buying an additional 31,980 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in LTC Properties by 180.4% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after acquiring an additional 30,258 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated 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 sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at $6,145,168.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Triche sold 5,000 shares of LTC Properties 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 sale, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Stock Up 0.4 %

NYSE:LTC opened at $39.44 on Tuesday. The firm has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $35.59. The firm has a market cap of $1.79 billion, a P/E ratio of 16.93 and a beta of 0.90. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $39.67. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). The firm had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. LTC Properties’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. Analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Thursday, November 21st. LTC Properties’s dividend payout ratio is currently 97.85%.

Analysts Set New Price Targets

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

About LTC Properties

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.