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

LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $37.16 per share, with a total value of $111,480.00. Following the transaction, the director now owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This represents a 16.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

LTC Properties Stock Up 0.9 %

Shares of NYSE LTC opened at $37.15 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’s 50-day moving average price is $37.46 and its 200-day moving average price is $36.27. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.94 and a beta of 0.91.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data 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). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities research analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

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

Institutional Investors Weigh In On LTC Properties

Several institutional investors have recently made changes to their positions in the company. Cetera Advisors LLC purchased a new stake in LTC Properties in the 1st quarter worth about $276,000. QRG Capital Management Inc. lifted its stake in shares of LTC Properties by 8.6% during the 2nd quarter. QRG Capital Management Inc. now owns 6,931 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 548 shares during the last quarter. SG Americas Securities LLC boosted its holdings in LTC Properties by 153.8% during the 2nd quarter. SG Americas Securities LLC now owns 12,497 shares of the real estate investment trust’s stock valued at $431,000 after acquiring an additional 7,574 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in LTC Properties by 2.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,897 shares of the real estate investment trust’s stock valued at $1,652,000 after acquiring an additional 1,331 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in LTC Properties by 11.1% in the second quarter. Nisa Investment Advisors LLC now owns 32,188 shares of the real estate investment trust’s stock worth $1,110,000 after purchasing an additional 3,223 shares during the period. Institutional investors own 69.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LTC shares. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th.

About LTC Properties

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.