LTC Properties, Inc. (NYSE:LTC) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management reduced its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 3.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,365 shares of the real estate investment trust’s stock after selling 1,482 shares during the period. Keudell Morrison Wealth Management’s holdings in LTC Properties were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of LTC Properties by 148.8% during the third quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust’s stock worth $3,228,000 after acquiring an additional 52,619 shares during the last quarter. JPMorgan Chase & Co. grew its position in LTC Properties by 80.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,807 shares of the real estate investment trust’s stock worth $9,312,000 after purchasing an additional 113,100 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of LTC Properties by 6.9% in the third quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock valued at $8,408,000 after purchasing an additional 14,778 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of LTC Properties by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after buying an additional 30,422 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of LTC Properties during the third quarter worth approximately $679,000. 69.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LTC shares. Citizens Jmp upgraded LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. 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 research note on Tuesday, January 7th.

LTC Properties Stock Performance

NYSE:LTC opened at $34.23 on Friday. The company has a 50-day moving average of $35.68 and a 200-day moving average of $36.38. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 14.69 and a beta of 0.93. 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.

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 the consensus estimate of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. Analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

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

Insider Buying and Selling

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 value of $232,500.00. Following the completion of the sale, the insider now owns 158,585 shares in the company, valued at $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost 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 $799,534.56. This trade 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 Company 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.