LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber Buys 3,000 Shares

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

LTC Properties Stock Down 0.7 %

LTC opened at $36.84 on Friday. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average price is $37.44 and its 200-day moving average price is $36.25. The company has a market cap of $1.67 billion, a P/E ratio of 15.81 and a beta of 0.91. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $39.89.

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

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a dividend of $0.19 per share. The ex-dividend date 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 366 shares in the last quarter. Amalgamated Bank raised its stake in LTC Properties by 2.9% in the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 372 shares in the last quarter. New York State Teachers Retirement System raised its stake in 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 worth $2,801,000 after buying an additional 375 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in LTC Properties by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 447 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on LTC

About LTC Properties

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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.

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