Strategic Financial Concepts LLC Buys 638,999 Shares of LTC Properties, Inc. (NYSE:LTC)

Strategic Financial Concepts LLC raised its stake in LTC Properties, Inc. (NYSE:LTC) by 3,358.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 658,026 shares of the real estate investment trust’s stock after purchasing an additional 638,999 shares during the period. Strategic Financial Concepts LLC’s holdings in LTC Properties were worth $22,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LTC. Millennium Management LLC grew its position in shares of LTC Properties by 33.7% in the 2nd quarter. Millennium Management LLC now owns 111,188 shares of the real estate investment trust’s stock worth $3,836,000 after buying an additional 28,039 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of LTC Properties by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,311 shares of the real estate investment trust’s stock valued at $735,000 after purchasing an additional 1,037 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of LTC Properties in the 2nd quarter worth $442,000. SG Americas Securities LLC increased its position in LTC Properties by 83.0% during the 3rd quarter. SG Americas Securities LLC now owns 22,874 shares of the real estate investment trust’s stock valued at $839,000 after buying an additional 10,377 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in LTC Properties by 71.0% in the third quarter. Handelsbanken Fonder AB now owns 16,130 shares of the real estate investment trust’s stock worth $592,000 after acquiring an additional 6,700 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Stock Performance

LTC opened at $33.97 on Friday. 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 12-month low of $30.30 and a 12-month high of $39.89. The firm has a 50 day moving average of $35.25 and a two-hundred day moving average of $36.31. The firm has a market capitalization of $1.54 billion, a PE ratio of 14.58 and a beta of 0.93.

LTC Properties Dividend Announcement

The firm also recently declared a jan 25 dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 20th will be issued a $0.19 dividend. This represents a yield of 6.45%. The ex-dividend date of this dividend is Thursday, February 20th. LTC Properties’s payout ratio is 97.85%.

Insiders Place Their Bets

In related news, Director David L. Gruber bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the acquisition, the director now directly owns 21,516 shares in the company, valued at approximately $799,534.56. The trade was a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

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

About LTC Properties

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.