Two Sigma Advisers LP boosted its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 33.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,100 shares of the real estate investment trust's stock after buying an additional 77,900 shares during the quarter. Two Sigma Advisers LP owned 0.69% of LTC Properties worth $11,488,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of LTC Properties during the 3rd quarter valued at approximately $36,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of LTC Properties by 35.0% during the 3rd 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 lifted its position in shares of LTC Properties by 25.4% during the 3rd 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 in the last quarter. FMR LLC lifted its position in shares of LTC Properties by 132.7% during the 3rd 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. purchased a new position in shares of LTC Properties during the 3rd quarter valued at approximately $202,000. 69.25% of the stock is owned by hedge funds and other institutional investors.
LTC Properties Trading Up 0.7 %
Shares of NYSE:LTC traded up $0.26 during midday trading on Tuesday, reaching $37.68. 183,862 shares of the company's stock were exchanged, compared to its average volume of 280,912. The firm's 50 day simple moving average is $37.38 and its two-hundred day simple moving average is $36.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 16.06 and a beta of 0.91. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $39.89.
LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.
LTC Properties Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.05%. The ex-dividend date is Monday, December 23rd. LTC Properties's payout ratio is presently 97.85%.
Insider Activity
In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction that occurred on Thursday, November 7th. The stock was 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 $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Wedbush reissued an "outperform" rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th. 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.
Read Our Latest Research Report on LTC
LTC Properties Company Profile
(
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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