Heitman Real Estate Securities LLC Acquires New Shares in LTC Properties, Inc. (NYSE:LTC)

Heitman Real Estate Securities LLC bought a new position in shares of LTC Properties, Inc. (NYSE:LTC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,434 shares of the real estate investment trust’s stock, valued at approximately $896,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in 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 worth $27,683,000 after purchasing an additional 30,422 shares during the period. Strategic Financial Concepts LLC lifted its holdings in 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 worth $232,000 after buying an additional 654,136 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of LTC Properties by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 31,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 purchasing an additional 251,609 shares during the last quarter. Finally, abrdn plc boosted its stake in LTC Properties by 25.7% during the 3rd quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after purchasing an additional 48,869 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares in the company, valued at $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research note on Friday, September 20th.

LTC Properties Trading Down 1.3 %

Shares of NYSE:LTC opened at $38.09 on Tuesday. The stock has a market capitalization of $1.72 billion, a PE ratio of 16.35 and a beta of 0.91. The firm has a fifty day moving average price of $37.27 and a 200 day moving average price of $36.11. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. 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 (NYSE:LTC) last issued 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 net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. During the same period last year, the company earned $0.65 earnings per share. LTC Properties’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.99%. LTC Properties’s dividend payout ratio is 97.85%.

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.