LTC Properties, Inc. (NYSE:LTC) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in LTC Properties, Inc. (NYSE:LTC - Free Report) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,176 shares of the real estate investment trust's stock after acquiring an additional 14,778 shares during the period. Principal Financial Group Inc. owned about 0.51% of LTC Properties worth $8,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its holdings in LTC Properties by 5.8% in the 3rd quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust's stock valued at $121,262,000 after purchasing an additional 181,973 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of LTC Properties by 0.7% in the third 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LTC Properties by 4.2% in the third 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 in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust's stock valued at $232,000 after buying an additional 654,136 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in LTC Properties by 5.5% during 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 acquiring an additional 31,980 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.

Insider Transactions at LTC Properties

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the sale, the insider now directly owns 158,585 shares of the company's stock, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber acquired 3,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

LTC has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an "equal weight" rating and set a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush reaffirmed an "outperform" rating and set a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Stock Up 0.3 %

NYSE LTC traded up $0.11 during mid-day trading on Wednesday, reaching $34.55. 402,946 shares of the company's stock traded hands, compared to its average volume of 286,116. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.89. The company has a fifty day simple moving average of $37.24 and a 200-day simple moving average of $36.37. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 14.83 and a beta of 0.91.

LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $35.45 million. During the same period in the previous year, the business posted $0.65 EPS. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend was Monday, December 23rd. LTC Properties's dividend payout ratio is presently 97.85%.

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.