GAMMA Investing LLC Boosts Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

GAMMA Investing LLC lifted its stake in LTC Properties, Inc. (NYSE:LTC) by 25.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,805 shares of the real estate investment trust’s stock after buying an additional 366 shares during the period. GAMMA Investing LLC’s holdings in LTC Properties were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC increased its stake in LTC Properties by 3,401.1% in the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 654,136 shares during the period. Vanguard Group Inc. grew its stake in shares of LTC Properties by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock worth $217,667,000 after purchasing an additional 91,963 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in LTC Properties by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after purchasing an additional 31,980 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised 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 valued at $1,623,000 after purchasing an additional 30,258 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of 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 buying an additional 28,039 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director David L. Gruber purchased 6,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the purchase, the director now directly owns 18,412 shares of the company’s stock, valued at $658,229. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now owns 34,522 shares of the company’s stock, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David L. Gruber acquired 6,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the transaction, the director now directly owns 18,412 shares of the company’s stock, valued at approximately $658,229. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LTC has been the subject of a number of research reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 price target (up from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Stock Up 0.6 %

Shares of LTC Properties stock opened at $35.84 on Wednesday. The stock has a market capitalization of $1.56 billion, a PE ratio of 18.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29. The company has a 50-day simple moving average of $36.33 and a two-hundred day simple moving average of $34.85. LTC Properties, Inc. has a 52-week low of $30.30 and a 52-week high of $38.28.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business had revenue of $50.12 million for the quarter, compared to the consensus estimate of $33.47 million. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts anticipate that LTC Properties, Inc. will post 2.69 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 6.36%. LTC Properties’s dividend payout ratio (DPR) is 118.75%.

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.