MQS Management LLC Acquires New Position in LTC Properties, Inc. $LTC

MQS Management LLC acquired a new stake in LTC Properties, Inc. (NYSE:LTC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 21,897 shares of the real estate investment trust’s stock, valued at approximately $807,000. LTC Properties accounts for 0.5% of MQS Management LLC’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Versor Investments LP purchased a new position in shares of LTC Properties during the 3rd quarter valued at $995,000. Waterloo Capital L.P. raised its holdings in shares of LTC Properties by 5.8% during the third quarter. Waterloo Capital L.P. now owns 68,376 shares of the real estate investment trust’s stock worth $2,520,000 after acquiring an additional 3,759 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in LTC Properties by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 94,230 shares of the real estate investment trust’s stock valued at $3,473,000 after purchasing an additional 449 shares during the last quarter. Hantz Financial Services Inc. boosted its position in LTC Properties by 701.3% during the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,101 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in LTC Properties by 75.0% in the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LTC. Cantor Fitzgerald set a $36.00 price target on LTC Properties in a research note on Monday, January 5th. JMP Securities restated a “market outperform” rating and issued a $43.00 price objective on shares of LTC Properties in a report on Friday, October 17th. Wells Fargo & Company raised their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on shares of LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, LTC Properties has a consensus rating of “Hold” and an average price target of $38.60.

Insider Activity at LTC Properties

In other news, EVP David M. Boitano acquired 10,000 shares of LTC Properties stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the purchase, the executive vice president owned 25,626 shares of the company’s stock, valued at $882,559.44. This represents a 64.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Stock Performance

LTC opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68. The company has a market cap of $1.81 billion, a PE ratio of 52.83 and a beta of 0.62. The stock has a 50-day moving average of $35.58 and a 200-day moving average of $35.66. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $38.35.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a dividend of $0.19 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio (DPR) is 316.67%.

About LTC Properties

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.