Denali Advisors LLC Sells 27,100 Shares of LTC Properties, Inc. (NYSE:LTC)

Denali Advisors LLC lessened its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 45.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,100 shares of the real estate investment trust's stock after selling 27,100 shares during the quarter. Denali Advisors LLC owned about 0.07% of LTC Properties worth $1,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LTC. State Street Corp grew its stake in shares of LTC Properties by 5.8% in the third quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust's stock valued at $121,262,000 after acquiring an additional 181,973 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of LTC Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust's stock worth $41,284,000 after purchasing an additional 8,351 shares during the period. Bank of New York Mellon Corp raised its position in shares of LTC Properties by 6.1% in the fourth quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust's stock valued at $33,260,000 after buying an additional 55,254 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of LTC Properties by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust's stock valued at $27,683,000 after buying an additional 30,422 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in LTC Properties by 3,358.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock worth $22,735,000 after buying an additional 638,999 shares in the last quarter. Institutional investors own 69.25% of the company's stock.

Wall Street Analyst Weigh In

LTC has been the subject of a number of recent analyst reports. Citizens Jmp upgraded LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. JMP Securities raised shares of LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Tuesday, January 7th.

LTC Properties Price Performance

Shares of LTC Properties stock traded up $0.12 during trading on Friday, reaching $34.89. 451,886 shares of the company's stock were exchanged, compared to its average volume of 342,571. 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, Inc. has a 1-year low of $31.14 and a 1-year high of $39.89. The company has a market cap of $1.58 billion, a P/E ratio of 14.97 and a beta of 0.93. The firm's 50-day moving average price is $34.43 and its 200 day moving average price is $36.09.

LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $34.81 million during the quarter, compared to analysts' expectations of $45.25 million. As a group, research analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share 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 issued a dividend of $0.19 per share. The ex-dividend date is Friday, March 21st. This represents a dividend yield of 6.45%. LTC Properties's dividend payout ratio (DPR) is presently 111.22%.

Insider Activity

In other news, Director David L. Gruber bought 3,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was acquired 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 in the company, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.