Principal Financial Group Inc. Grows Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Principal Financial Group Inc. boosted its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 246,663 shares of the real estate investment trust's stock after purchasing an additional 17,487 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of LTC Properties worth $8,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LTC. State Street Corp grew its stake in shares of LTC Properties by 5.8% in the third quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust's stock worth $121,262,000 after acquiring an additional 181,973 shares during the period. Geode Capital Management LLC raised its stake in LTC Properties by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust's stock valued at $41,284,000 after buying an additional 8,351 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of LTC Properties by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust's stock valued at $27,683,000 after buying an additional 30,422 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of LTC Properties by 3,358.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust's stock worth $22,735,000 after buying an additional 638,999 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of LTC Properties by 312.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust's stock worth $12,187,000 after buying an additional 251,609 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JMP Securities raised LTC Properties from a "market perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a report on Tuesday, January 7th. Citizens Jmp raised shares of LTC Properties from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th.

Insider Buying and Selling

In other news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now owns 21,516 shares in the company, valued at $799,534.56. The trade was a 16.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

LTC Properties Trading Up 0.9 %

NYSE LTC traded up $0.31 on Wednesday, hitting $36.00. 484,318 shares of the stock were exchanged, compared to its average volume of 272,154. LTC Properties, Inc. has a 52-week low of $31.14 and a 52-week high of $39.89. The firm has a market capitalization of $1.64 billion, a P/E ratio of 15.45 and a beta of 0.93. The stock has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $36.08. 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 posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $34.81 million for the quarter, compared to the consensus estimate of $45.25 million. Research analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a jan 25 dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 21st will be given a $0.19 dividend. The ex-dividend date is Friday, March 21st. This represents a dividend yield of 6.45%. LTC Properties's payout ratio is 111.22%.

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.