Geode Capital Management LLC Acquires 8,351 Shares of LTC Properties, Inc. (NYSE:LTC)

Geode Capital Management LLC lifted its holdings in LTC Properties, Inc. (NYSE:LTC) by 0.7% in the third quarter, Holdings Channel reports. The fund owned 1,125,020 shares of the real estate investment trust’s stock after purchasing an additional 8,351 shares during the quarter. Geode Capital Management LLC’s holdings in LTC Properties were worth $41,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of LTC Properties by 25.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 366 shares during the period. Amalgamated Bank increased its position in LTC Properties by 2.9% during the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 372 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of LTC Properties by 0.5% in the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust’s stock valued at $2,801,000 after acquiring an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of LTC Properties by 35.0% in the 3rd 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 last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in LTC Properties by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling

In related news, Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the transaction, the insider now owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

LTC Properties Price Performance

Shares of LTC stock opened at $34.73 on Wednesday. The company has a market capitalization of $1.57 billion, a P/E ratio of 14.91 and a beta of 0.91. The company’s 50-day simple moving average is $37.44 and its two-hundred day simple moving average is $36.35. LTC Properties, Inc. has a one year low of $30.30 and a one year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend is Monday, December 23rd. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

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.