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

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

Analyst Upgrades and Downgrades

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

LTC Properties Stock Performance

The company has a market cap of $1.64 billion, a PE ratio of 19.19 and a beta of 0.91. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $36.35 and a 200-day moving average of $35.13.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts anticipate that LTC Properties, Inc. will post 2.7 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 6.03%. LTC Properties’s payout ratio is 118.75%.

Insider Buying and Selling at LTC Properties

In related news, Director David L. Gruber purchased 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now directly owns 18,412 shares in the company, valued at $658,229. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Gruber bought 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought 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 owns 18,412 shares in the company, valued at approximately $658,229. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On LTC Properties

Several hedge funds and other institutional investors have recently modified their holdings of LTC. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LTC Properties by 3.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,173 shares of the real estate investment trust’s stock worth $9,877,000 after purchasing an additional 9,221 shares in the last quarter. BNP Paribas Financial Markets increased its stake in LTC Properties by 9.8% in the 1st quarter. BNP Paribas Financial Markets now owns 20,589 shares of the real estate investment trust’s stock worth $669,000 after buying an additional 1,843 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in LTC Properties by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,469 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 887 shares in the last quarter. GSA Capital Partners LLP increased its stake in LTC Properties by 70.8% in the 1st quarter. GSA Capital Partners LLP now owns 16,510 shares of the real estate investment trust’s stock worth $537,000 after buying an additional 6,846 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in LTC Properties by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust’s stock worth $1,178,000 after buying an additional 469 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

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.