Millennium Management LLC Acquires 28,039 Shares of LTC Properties, Inc. (NYSE:LTC)

Millennium Management LLC raised its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 33.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,188 shares of the real estate investment trust's stock after purchasing an additional 28,039 shares during the quarter. Millennium Management LLC owned 0.26% of LTC Properties worth $3,836,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC increased its stake in shares of LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust's stock worth $232,000 after buying an additional 654,136 shares during the period. Vanguard Group Inc. raised its position in LTC Properties by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust's stock worth $217,667,000 after buying an additional 91,963 shares during the last quarter. Dimensional Fund Advisors LP raised its position in LTC Properties by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust's stock worth $21,180,000 after buying an additional 31,980 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of LTC Properties by 180.4% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust's stock valued at $1,623,000 after purchasing an additional 30,258 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of LTC Properties during the 2nd quarter valued at approximately $550,000. Institutional investors own 69.25% of the company's stock.

LTC Properties Stock Up 0.1 %

Shares of NYSE:LTC traded up $0.03 on Monday, hitting $35.61. 268,154 shares of the company's stock were exchanged, compared to its average volume of 281,952. The firm's 50-day moving average is $36.33 and its 200 day moving average is $34.83. The company has a market capitalization of $1.55 billion, a PE ratio of 18.55 and a beta of 0.91. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 11.29 and a current ratio of 11.29.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22). The firm had revenue of $50.12 million for the quarter, compared to analyst estimates of $33.47 million. LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. Sell-side analysts predict that LTC Properties, Inc. will post 2.69 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Thursday, November 21st. LTC Properties's dividend payout ratio (DPR) is 118.75%.

Insider Buying and Selling at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the completion of the transaction, the director now directly owns 34,522 shares of the company's stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the transaction, the director now directly owns 34,522 shares of the company's stock, valued at $1,258,326.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David L. Gruber bought 6,000 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, for a total transaction of $214,500.00. Following the completion of the transaction, the director now owns 18,412 shares of the company's stock, valued at $658,229. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on LTC shares. Wedbush restated an "outperform" rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reaffirmed 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.

About LTC Properties

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.