State Street Corp Acquires 181,973 Shares of LTC Properties, Inc. (NYSE:LTC)

State Street Corp lifted its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,305,037 shares of the real estate investment trust's stock after acquiring an additional 181,973 shares during the period. State Street Corp owned 7.30% of LTC Properties worth $121,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LTC. Harbor Capital Advisors Inc. acquired a new stake in LTC Properties in the third quarter worth approximately $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 worth $62,000 after buying an additional 437 shares in the last quarter. GAMMA Investing LLC lifted 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 period. FMR LLC boosted its stake in LTC Properties by 132.7% during the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust's stock valued at $106,000 after buying an additional 1,653 shares in the last quarter. Finally, Community Trust & Investment Co. acquired a new position in LTC Properties during the third quarter worth about $202,000. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Trading Up 0.9 %

LTC traded up $0.33 during trading on Friday, reaching $37.15. The company had a trading volume of 235,416 shares, compared to its average volume of 280,307. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 15.94 and a beta of 0.91. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $39.89. The firm's 50-day simple moving average is $37.46 and its 200 day simple moving average is $36.31.

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 for the quarter, missing analysts' consensus estimates of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the prior year, the company earned $0.65 EPS. LTC Properties's revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date is Monday, December 23rd. LTC Properties's dividend payout ratio (DPR) is presently 97.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LTC. 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 research report on Tuesday, October 1st. Wedbush restated an "outperform" rating and set a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.

Insider Activity at LTC Properties

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

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.