Van ECK Associates Corp Boosts Stock Position in LTC Properties, Inc. (NYSE:LTC)

Van ECK Associates Corp increased its position in shares of LTC Properties, Inc. (NYSE:LTC) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,382 shares of the real estate investment trust’s stock after acquiring an additional 811 shares during the period. Van ECK Associates Corp’s holdings in LTC Properties were worth $265,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of LTC Properties during the third quarter worth about $36,000. GAMMA Investing LLC lifted its holdings in LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares during the period. Community Trust & Investment Co. acquired a new position in shares of LTC Properties in the third quarter worth $202,000. Finally, Walleye Trading LLC purchased a new stake in shares of LTC Properties during the first quarter worth $209,000. 69.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

LTC Properties Stock Performance

Shares of LTC stock opened at $39.33 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of 16.88 and a beta of 0.90. The firm has a fifty day moving average price of $36.83 and a 200 day moving average price of $35.64. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $39.89.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue was up 13.1% compared to the same quarter last year. Sell-side analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 5.80%. 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 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 transaction, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Triche sold 5,000 shares of the firm’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 transaction of $182,250.00. Following the transaction, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

LTC Properties 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.