LTC Properties (NYSE:LTC) Shares Up 4.8% – Here’s What Happened

LTC Properties, Inc. (NYSE:LTC) was up 4.8% during mid-day trading on Tuesday . The stock traded as high as $37.70 and last traded at $37.66. Approximately 197,601 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 279,752 shares. The stock had previously closed at $35.94.

Analyst Ratings Changes

Several research analysts recently weighed in on LTC shares. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price target (up 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 research note on Friday, September 20th.

LTC Properties Stock Down 2.1 %

The firm has a market capitalization of $1.73 billion, a PE ratio of 16.39 and a beta of 0.91. The stock has a 50-day simple moving average of $36.45 and a 200-day simple moving average of $35.20. The company has a quick ratio of 11.29, a current ratio of 11.29 and a debt-to-equity ratio of 0.88.

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 net margin of 46.78% and a return on equity of 10.22%. The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same period last year, the company earned $0.65 earnings per share. LTC Properties’s revenue for the quarter was up 13.1% compared to the same quarter last year. Analysts forecast that LTC Properties, Inc. will post 2.7 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.97%. LTC Properties’s payout ratio is 97.85%.

Insider Activity

In other news, Director David L. Gruber purchased 6,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased 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 in the company, valued at approximately $658,229. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David L. Gruber purchased 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $35.75 per share, with a total value of $214,500.00. Following the completion of the purchase, the director now directly owns 18,412 shares in the company, valued at approximately $658,229. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction that occurred 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 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. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LTC. IQ EQ FUND MANAGEMENT IRELAND Ltd grew 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 worth $1,623,000 after acquiring an additional 30,258 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of LTC Properties in the first quarter worth $276,000. Strategic Financial Concepts LLC raised its holdings 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 buying an additional 654,136 shares during the last quarter. MQS Management LLC bought a new stake in LTC Properties during the 2nd quarter valued at $550,000. Finally, Millennium Management LLC grew its holdings in LTC Properties by 33.7% in the 2nd quarter. Millennium Management LLC now owns 111,188 shares of the real estate investment trust’s stock worth $3,836,000 after acquiring an additional 28,039 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

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.