New York State Teachers Retirement System Raises Stake in LTC Properties, Inc. (NYSE:LTC)

New York State Teachers Retirement System increased its stake in LTC Properties, Inc. (NYSE:LTC) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,354 shares of the real estate investment trust’s stock after buying an additional 375 shares during the period. New York State Teachers Retirement System owned 0.18% of LTC Properties worth $2,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LTC. GAMMA Investing LLC grew its stake in LTC Properties by 91.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 purchasing an additional 437 shares in the last quarter. Community Trust & Investment Co. purchased a new position in LTC Properties during the 3rd quarter worth $202,000. Walleye Trading LLC bought a new stake in LTC Properties during the 1st quarter valued at $209,000. Finally, Van ECK Associates Corp lifted its holdings in shares of LTC Properties by 11.7% in the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 689 shares during the period. Institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Up 2.1 %

LTC Properties stock opened at $38.72 on Friday. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $39.64. The business has a fifty day moving average of $36.66 and a two-hundred day moving average of $35.45. The firm has a market cap of $1.75 billion, a P/E ratio of 16.62 and a beta of 0.90. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, analysts forecast that LTC Properties, Inc. will post 2.79 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 Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, November 21st. LTC Properties’s payout ratio is currently 97.85%.

Insider Transactions at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred 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 owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.