Allspring Global Investments Holdings LLC Makes New Investment in LTC Properties, Inc. (NYSE:LTC)

Allspring Global Investments Holdings LLC purchased a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,864 shares of the real estate investment trust's stock, valued at approximately $894,000. Allspring Global Investments Holdings LLC owned approximately 0.06% of LTC Properties as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in shares of LTC Properties in the third quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of LTC Properties by 35.3% during the 4th quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust's stock valued at $84,000 after acquiring an additional 638 shares in the last quarter. FMR LLC raised its holdings in shares of LTC Properties by 132.7% in the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock worth $106,000 after buying an additional 1,653 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in LTC Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust's stock valued at $265,000 after buying an additional 811 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.

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Insider Transactions at LTC Properties

In other news, Director David L. Gruber purchased 3,000 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares of the company's stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citizens Jmp upgraded LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Tuesday, January 7th.

LTC Properties Trading Up 0.2 %

LTC traded up $0.08 during mid-day trading on Thursday, reaching $34.79. The stock had a trading volume of 272,140 shares, compared to its average volume of 339,693. The firm's fifty day simple moving average is $34.43 and its two-hundred day simple moving average is $36.10. The stock has a market capitalization of $1.57 billion, a P/E ratio of 14.93 and a beta of 0.93. LTC Properties, Inc. has a 52 week low of $31.14 and a 52 week high of $39.89. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $34.81 million during the quarter, compared to analysts' expectations of $45.25 million. On average, equities analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently declared a jan 25 dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be paid a $0.19 dividend. This represents a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, March 21st. LTC Properties's dividend payout ratio (DPR) is currently 111.22%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.