Principal Financial Group Inc. Sells 829 Shares of LTC Properties, Inc. (NYSE:LTC)

Principal Financial Group Inc. lowered its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,950 shares of the real estate investment trust’s stock after selling 829 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of LTC Properties worth $6,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in LTC Properties in the fourth quarter worth about $8,609,000. abrdn plc boosted its holdings in LTC Properties by 2,190.3% in the fourth quarter. abrdn plc now owns 189,978 shares of the real estate investment trust’s stock worth $6,102,000 after acquiring an additional 181,683 shares in the last quarter. Waterloo Capital L.P. acquired a new stake in LTC Properties in the fourth quarter worth about $1,519,000. Charles Schwab Investment Management Inc. boosted its holdings in LTC Properties by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 669,340 shares of the real estate investment trust’s stock worth $21,499,000 after acquiring an additional 24,322 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in LTC Properties in the fourth quarter worth about $665,000. Institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Up 0.3 %

NYSE LTC traded up $0.10 during trading on Friday, hitting $34.38. The company’s stock had a trading volume of 33,158 shares, compared to its average volume of 273,914. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The company has a market cap of $1.49 billion, a PE ratio of 17.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 15.86 and a quick ratio of 15.86. The business’s 50 day simple moving average is $34.00 and its 200-day simple moving average is $32.67.

LTC Properties Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Friday, September 20th. LTC Properties’s payout ratio is 118.75%.

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.