Barclays PLC Acquires 52,619 Shares of LTC Properties, Inc. (NYSE:LTC)

Barclays PLC grew its position in LTC Properties, Inc. (NYSE:LTC - Free Report) by 148.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,972 shares of the real estate investment trust's stock after acquiring an additional 52,619 shares during the period. Barclays PLC owned 0.19% of LTC Properties worth $3,228,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in LTC Properties in the 3rd quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 437 shares in the last quarter. 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. FMR LLC lifted its position in LTC Properties by 132.7% during 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, Community Trust & Investment Co. bought a new stake in LTC Properties during the 3rd quarter worth about $202,000. 69.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LTC Properties

In related news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now directly owns 21,516 shares of the company's stock, valued at $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clint B. Malin sold 6,000 shares of the company'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 sale, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a research note 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.

LTC Properties Stock Up 0.7 %

Shares of NYSE:LTC traded up $0.24 during trading on Tuesday, hitting $34.73. 118,329 shares of the company's stock traded hands, compared to its average volume of 286,506. 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 50-day moving average price of $37.44 and a 200-day moving average price of $36.35. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.89. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 14.91 and a beta of 0.91.

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 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company 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%. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. As a group, research analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Monday, December 23rd. LTC Properties's dividend payout ratio (DPR) is currently 97.85%.

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.