LTC Properties, Inc. (NYSE:LTC) Director Acquires $111,480.00 in Stock

LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the acquisition, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

LTC Properties Stock Performance

Shares of LTC Properties stock traded down $0.26 during trading hours on Thursday, reaching $36.84. The company had a trading volume of 211,566 shares, compared to its average volume of 280,493. 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, Inc. has a one year low of $30.30 and a one year high of $39.89. The firm has a market cap of $1.67 billion, a PE ratio of 15.94 and a beta of 0.91. The business has a fifty day simple moving average of $37.42 and a 200 day simple moving average of $36.25.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results 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). The firm had revenue of $55.78 million during 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%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a yield of 6.19%. LTC Properties’s dividend payout ratio is presently 97.85%.

Institutional Investors Weigh In On LTC Properties

Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of LTC Properties by 5.8% during the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock valued at $121,262,000 after purchasing an additional 181,973 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of LTC Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock worth $41,284,000 after acquiring an additional 8,351 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in LTC Properties by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of 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 valued at $232,000 after purchasing an additional 654,136 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 31,980 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analysts Set New Price Targets

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

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.