LTC Properties, Inc. (NYSE:LTC) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its stake in LTC Properties, Inc. (NYSE:LTC) by 22.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,439 shares of the real estate investment trust’s stock after buying an additional 5,270 shares during the quarter. Penserra Capital Management LLC owned about 0.06% of LTC Properties worth $1,043,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of LTC Properties by 25.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 366 shares during the period. Amalgamated Bank raised its position in LTC Properties by 2.9% in the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 372 shares during the period. New York State Teachers Retirement System raised its position in LTC Properties by 0.5% in the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 375 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 purchasing an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of LTC Properties by 3.8% during the second 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 during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Wall Street Analysts Forecast Growth

LTC has been the topic of several research reports. 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. 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 research note on Tuesday, October 1st.

Insiders Place Their Bets

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the director now directly owns 34,522 shares of the company’s stock, valued at $1,258,326.90. The trade was a 12.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clint B. Malin sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

LTC Properties Stock Up 1.2 %

LTC Properties stock opened at $38.91 on Wednesday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 16.49 and a beta of 0.90. 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, Inc. has a twelve month low of $30.30 and a twelve month high of $39.89. The stock’s fifty day simple moving average is $37.08 and its 200-day simple moving average is $35.96.

LTC Properties (NYSE:LTC) last posted its quarterly 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 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 analyst estimates of $35.45 million. During the same period in the prior year, the business earned $0.65 EPS. LTC Properties’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a yield of 5.86%. LTC Properties’s dividend payout ratio is currently 97.85%.

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.