Y Intercept Hong Kong Ltd Takes Position in LTC Properties, Inc. (NYSE:LTC)

Y Intercept Hong Kong Ltd purchased a new position in LTC Properties, Inc. (NYSE:LTC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,504 shares of the real estate investment trust’s stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LTC. GAMMA Investing LLC boosted its stake in LTC Properties by 25.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 366 shares during the period. Amalgamated Bank raised its holdings in shares of LTC Properties by 2.9% during the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 372 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of LTC Properties by 0.5% during the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust’s stock worth $2,801,000 after buying an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 437 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in LTC Properties by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Stock Performance

LTC opened at $37.15 on Friday. The business has a 50 day moving average price of $37.46 and a two-hundred day moving average price of $36.27. 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 company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.94 and a beta of 0.91. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.89.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 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 the consensus estimate of $35.45 million. During the same period in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.28 annualized dividend and a dividend yield of 6.14%. LTC Properties’s dividend payout ratio (DPR) is 97.85%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider Clint B. Malin sold 6,000 shares of the 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 approximately $6,145,168.75. This represents a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David L. Gruber acquired 3,000 shares of LTC Properties stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the purchase, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

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.