Illinois Municipal Retirement Fund Boosts Position in LTC Properties, Inc. (NYSE:LTC)

Illinois Municipal Retirement Fund raised its position in LTC Properties, Inc. (NYSE:LTC) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 23,485 shares of the real estate investment trust’s stock after acquiring an additional 1,301 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in LTC Properties were worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LTC. Harbor Capital Advisors Inc. purchased a new stake in shares of LTC Properties in the 3rd quarter worth about $36,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 437 shares in the last quarter. GAMMA Investing LLC grew its position in shares of LTC Properties by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 2,443 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 638 shares during the last quarter. FMR LLC grew its position in shares of LTC Properties by 132.7% in the third quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of LTC Properties during the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Performance

NYSE:LTC opened at $35.75 on Tuesday. 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 firm has a market cap of $1.62 billion, a PE ratio of 15.34 and a beta of 0.93. The firm has a 50 day simple moving average of $34.43 and a 200-day simple moving average of $36.09. LTC Properties, Inc. has a 1-year low of $31.14 and a 1-year high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.65 by $0.07. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $34.81 million during the quarter, compared to analysts’ expectations of $45.25 million. On average, equities analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The firm also recently announced a jan 25 dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, March 21st. This represents a yield of 6.45%. LTC Properties’s payout ratio is currently 111.22%.

Insider Buying and Selling

In other LTC Properties news, Director David L. Gruber purchased 3,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citizens Jmp raised LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities upgraded LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Tuesday, January 7th.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.