LTC Properties, Inc. $LTC Shares Purchased by AlphaQuest LLC

AlphaQuest LLC grew its position in shares of LTC Properties, Inc. (NYSE:LTC) by 179.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,456 shares of the real estate investment trust’s stock after purchasing an additional 14,427 shares during the period. AlphaQuest LLC’s holdings in LTC Properties were worth $828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LTC. Harbor Capital Advisors Inc. lifted its stake in shares of LTC Properties by 55.7% during the third quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 352 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in LTC Properties in the 2nd quarter worth approximately $41,000. IFP Advisors Inc raised its holdings in LTC Properties by 21.2% in the 2nd quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 296 shares during the last quarter. Corsicana & Co. purchased a new position in shares of LTC Properties during the 3rd quarter worth $74,000. Finally, Rossby Financial LCC boosted its holdings in shares of LTC Properties by 45.6% during the second quarter. Rossby Financial LCC now owns 2,377 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 744 shares during the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their target price on LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Cantor Fitzgerald set a $36.00 price objective on shares of LTC Properties in a research note on Monday, January 5th. Wells Fargo & Company raised their target price on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. JMP Securities reaffirmed a “market outperform” rating and set a $43.00 price target on shares of LTC Properties in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.60.

LTC Properties Stock Down 0.8%

Shares of NYSE:LTC opened at $36.19 on Tuesday. The stock has a 50-day simple moving average of $35.47 and a 200-day simple moving average of $35.58. The stock has a market capitalization of $1.72 billion, a P/E ratio of 50.26 and a beta of 0.62. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $37.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The firm had revenue of $50.05 million for the quarter, compared to analyst estimates of $65.94 million. During the same quarter last year, the firm posted $0.78 earnings per share. LTC Properties’s revenue for the quarter was up 24.2% compared to the same quarter last year. Equities analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) annualized dividend and a yield of 6.3%. LTC Properties’s dividend payout ratio (DPR) is 316.67%.

Insider Activity

In related news, Director David L. Gruber acquired 4,000 shares of LTC Properties stock in a transaction on Thursday, November 6th. The shares were bought at an average price of $35.41 per share, for a total transaction of $141,640.00. Following the completion of the purchase, the director directly owned 28,738 shares in the company, valued at $1,017,612.58. This trade represents a 16.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David M. Boitano bought 10,000 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average price of $34.44 per share, with a total value of $344,400.00. Following the purchase, the executive vice president owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This represents a 64.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 15,000 shares of company stock worth $521,980 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Company Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.