LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber Buys 3,000 Shares

LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

LTC Properties Stock Performance

NYSE:LTC opened at $36.84 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The business has a fifty day simple moving average of $37.44 and a two-hundred day simple moving average of $36.25. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The company has a market capitalization of $1.67 billion, a P/E ratio of 15.81 and a beta of 0.91.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) 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 firm had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. During the same period in the prior year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Monday, December 23rd. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

Hedge Funds Weigh In On LTC Properties

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in shares of LTC Properties by 6.9% in the third quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock valued at $8,408,000 after purchasing an additional 14,778 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LTC Properties by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock worth $27,683,000 after buying an additional 30,422 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in LTC Properties by 180.4% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after buying an additional 30,258 shares in the last quarter. Intech Investment Management LLC purchased a new position in LTC Properties during the third quarter worth about $679,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in LTC Properties by 312.3% during the third 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 buying an additional 251,609 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on LTC. Wedbush reiterated an “outperform” rating and set a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reiterated an “equal weight” rating and set a $37.00 price target (up from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

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.