abrdn plc Boosts Holdings in LTC Properties, Inc. (NYSE:LTC)

abrdn plc raised its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,793 shares of the real estate investment trust's stock after acquiring an additional 48,869 shares during the quarter. abrdn plc owned approximately 0.55% of LTC Properties worth $8,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of LTC Properties by 91.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 437 shares in the last quarter. Community Trust & Investment Co. bought a new stake in LTC Properties during the 3rd quarter valued at about $202,000. Walleye Trading LLC bought a new stake in LTC Properties during the 1st quarter valued at about $209,000. Finally, Van ECK Associates Corp increased its stake in LTC Properties by 11.7% during the 2nd quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust's stock valued at $227,000 after purchasing an additional 689 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Trading Down 2.4 %

Shares of NYSE:LTC traded down $0.90 during trading on Friday, reaching $37.30. 219,890 shares of the company were exchanged, compared to its average volume of 289,234. The firm has a market capitalization of $1.69 billion, a PE ratio of 16.01 and a beta of 0.90. The business's fifty day simple moving average is $36.53 and its 200-day simple moving average is $35.29. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $39.64. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.29.

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 the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million for the quarter, compared to analysts' expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, research analysts anticipate that LTC Properties, Inc. will post 2.74 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 6.11%. LTC Properties's dividend payout ratio is presently 97.85%.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction on Friday, August 30th. The shares were 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 owns 34,522 shares of the company's stock, valued at approximately $1,258,326.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LTC. Wedbush reissued an "outperform" rating and issued a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

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.