LTC Properties, Inc. (NYSE:LTC - Get Free Report) insider Clint B. Malin sold 6,000 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were 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 directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
LTC Properties Price Performance
Shares of NYSE LTC traded up $0.59 during midday trading on Friday, reaching $39.30. 458,820 shares of the company traded hands, compared to its average volume of 283,193. The stock's 50-day simple moving average is $36.66 and its 200-day simple moving average is $35.45. 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 12 month low of $30.30 and a 12 month high of $39.67. The firm has a market cap of $1.78 billion, a PE ratio of 16.90 and a beta of 0.90.
LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). The firm had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. LTC Properties's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.
LTC Properties Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a $0.19 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 5.80%. LTC Properties's payout ratio is 97.85%.
Analysts Set New Price Targets
LTC has been the topic of several research reports. Wells Fargo & Company restated an "equal weight" rating and set a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reaffirmed an "outperform" rating and set a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th.
Get Our Latest Research Report on LTC
Hedge Funds Weigh In On LTC Properties
A number of institutional investors and hedge funds have recently bought and sold shares of LTC. GAMMA Investing LLC raised its holdings in shares of LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 366 shares during the last quarter. Amalgamated Bank lifted its position in shares of LTC Properties by 2.9% during the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 372 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of LTC Properties by 0.5% during the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust's stock valued at $2,801,000 after purchasing an additional 375 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $62,000 after purchasing an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in LTC Properties by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust's stock worth $420,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.
About LTC Properties
(
Get Free Report)
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.
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