Principal Financial Group Inc. Purchases 14,778 Shares of LTC Properties, Inc. (NYSE:LTC)

Principal Financial Group Inc. increased its holdings in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 6.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 229,176 shares of the real estate investment trust's stock after purchasing an additional 14,778 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of LTC Properties worth $8,408,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LTC. Harbor Capital Advisors Inc. acquired a new stake in shares of LTC Properties in the third quarter worth $36,000. GAMMA Investing LLC increased its holdings in shares of LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 687 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of LTC Properties by 35.0% during the third 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 during the last quarter. Community Trust & Investment Co. bought a new stake in shares of LTC Properties in the third quarter valued at about $202,000. Finally, Walleye Trading LLC acquired a new stake in LTC Properties during the first quarter worth about $209,000. Institutional investors own 69.25% of the company's stock.

Wall Street Analysts Forecast Growth

LTC has been the subject of several recent research reports. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company restated 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.

LTC Properties Price Performance

LTC traded up $0.15 during midday trading on Tuesday, reaching $38.20. 47,714 shares of the company's stock were exchanged, compared to its average volume of 283,126. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The business has a 50-day simple moving average of $36.93 and a two-hundred day simple moving average of $35.75. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.33 and a beta of 0.90. LTC Properties, Inc. has a one year low of $30.30 and a one year high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same quarter last year, the business earned $0.65 EPS. LTC Properties's quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a yield of 5.97%. LTC Properties's dividend payout ratio is 97.85%.

Insider Buying and Selling at LTC Properties

In other news, Director Timothy Triche sold 5,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 12.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Clint B. Malin sold 6,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

LTC Properties Company 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.