Mutual of America Capital Management LLC Sells 603 Shares of LTC Properties, Inc. (NYSE:LTC)

Mutual of America Capital Management LLC cut its holdings in LTC Properties, Inc. (NYSE:LTC) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,542 shares of the real estate investment trust’s stock after selling 603 shares during the period. Mutual of America Capital Management LLC’s holdings in LTC Properties were worth $240,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Strategic Financial Concepts LLC lifted its holdings in shares of 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 acquiring an additional 654,136 shares during the last quarter. Vanguard Group Inc. raised its stake in LTC Properties by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock valued at $217,667,000 after buying an additional 91,963 shares during the last quarter. abrdn plc lifted its stake in shares of LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock worth $8,761,000 after buying an additional 48,869 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of LTC Properties by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 31,980 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in LTC Properties by 180.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after purchasing an additional 30,258 shares during the period. 69.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the transaction, the insider now directly owns 158,585 shares in the company, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

LTC Properties Trading Down 0.5 %

NYSE:LTC opened at $38.70 on Friday. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $39.89. The firm has a fifty day simple moving average of $37.14 and a 200-day simple moving average of $36.01. 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 company has a market capitalization of $1.75 billion, a P/E ratio of 16.61 and a beta of 0.90.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS 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 analyst estimates of $35.45 million. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

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 given 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 5.89%. LTC Properties’s payout ratio is presently 97.85%.

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.