JPMorgan Chase & Co. Increases Holdings in LTC Properties, Inc. (NYSE:LTC)

JPMorgan Chase & Co. lifted its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 80.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,807 shares of the real estate investment trust's stock after purchasing an additional 113,100 shares during the period. JPMorgan Chase & Co. owned 0.56% of LTC Properties worth $9,312,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in shares of LTC Properties in the 3rd quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 during the period. GAMMA Investing LLC boosted its position in LTC Properties by 25.4% during the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust's stock valued at $66,000 after acquiring an additional 366 shares during the last quarter. FMR LLC grew its holdings 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 acquiring an additional 1,653 shares during the period. Finally, Community Trust & Investment Co. bought a new position in shares of LTC Properties in the 3rd quarter worth about $202,000. Institutional investors own 69.25% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company's stock, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber purchased 3,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the acquisition, the director now owns 21,516 shares of the company's stock, valued at $799,534.56. The trade was a 16.20 % increase in their position. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.

LTC Properties Stock Up 0.3 %

LTC Properties stock traded up $0.11 during mid-day trading on Tuesday, reaching $34.15. The stock had a trading volume of 211,118 shares, compared to its average volume of 297,502. The firm has a market capitalization of $1.55 billion, a PE ratio of 14.66 and a beta of 0.93. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. The stock's 50-day simple moving average is $36.72 and its 200-day simple moving average is $36.40. 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 earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. LTC Properties's revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.68%. LTC Properties's dividend payout ratio is presently 97.85%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LTC. Wedbush restated an "outperform" rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th. JMP Securities upgraded LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Tuesday, January 7th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Finally, Citizens Jmp upgraded shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.75.

LTC Properties 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.