Advisors Capital Management LLC Has $27.67 Million Stake in LTC Properties, Inc. $LTC

Advisors Capital Management LLC increased its position in LTC Properties, Inc. (NYSE:LTC) by 3.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 750,689 shares of the real estate investment trust’s stock after acquiring an additional 27,686 shares during the period. Advisors Capital Management LLC’s holdings in LTC Properties were worth $27,670,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LTC. Jones Financial Companies Lllp grew its position in LTC Properties by 75.0% in the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of LTC Properties by 55.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 352 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of LTC Properties in the 2nd quarter valued at $41,000. Hantz Financial Services Inc. boosted its holdings in LTC Properties by 701.3% in the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in LTC Properties during the third quarter worth $55,000. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP David M. Boitano acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $34.44 per share, with a total value of $344,400.00. Following the completion of the acquisition, the executive vice president owned 25,626 shares in the company, valued at approximately $882,559.44. This represents a 64.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on LTC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. Cantor Fitzgerald set a $36.00 target price on LTC Properties in a research report on Monday, January 5th. Wells Fargo & Company increased their price target on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada lifted their price target on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.60.

LTC Properties Stock Up 1.1%

Shares of LTC stock opened at $39.83 on Wednesday. The stock has a 50 day moving average of $35.99 and a 200-day moving average of $35.84. The firm has a market cap of $1.90 billion, a PE ratio of 55.32 and a beta of 0.62. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90. LTC Properties, Inc. has a 12 month low of $31.70 and a 12 month high of $40.05.

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a $0.19 dividend. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is 316.67%.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.