Public Sector Pension Investment Board Has $6.61 Million Stock Holdings in LTC Properties, Inc. $LTC

Public Sector Pension Investment Board grew its position in shares of LTC Properties, Inc. (NYSE:LTC) by 14.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 179,198 shares of the real estate investment trust’s stock after buying an additional 22,627 shares during the quarter. Public Sector Pension Investment Board’s holdings in LTC Properties were worth $6,605,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in LTC Properties by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 143,659 shares of the real estate investment trust’s stock valued at $5,295,000 after purchasing an additional 1,798 shares during the last quarter. MQS Management LLC bought a new stake in shares of LTC Properties during the third quarter worth $807,000. Versor Investments LP acquired a new stake in shares of LTC Properties in the third quarter valued at $995,000. Waterloo Capital L.P. increased its stake in shares of LTC Properties by 5.8% in the third quarter. Waterloo Capital L.P. now owns 68,376 shares of the real estate investment trust’s stock valued at $2,520,000 after buying an additional 3,759 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of LTC Properties by 0.5% in the third quarter. Envestnet Asset Management Inc. now owns 94,230 shares of the real estate investment trust’s stock valued at $3,473,000 after buying an additional 449 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Activity at LTC Properties

In related news, EVP David M. Boitano purchased 10,000 shares of LTC Properties stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the transaction, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This trade represents a 64.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.10% of the company’s stock.

LTC Properties Stock Down 2.1%

Shares of NYSE LTC opened at $39.06 on Thursday. The firm has a market capitalization of $1.86 billion, a PE ratio of 54.25 and a beta of 0.62. The company has a current ratio of 8.68, a quick ratio of 8.68 and a debt-to-equity ratio of 0.90. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $40.05. The firm’s 50-day moving average is $36.08 and its 200-day moving average is $35.86.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, March 23rd. LTC Properties’s payout ratio is currently 316.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LTC. Wells Fargo & Company increased their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. Royal Bank Of Canada increased their price target on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Finally, Cantor Fitzgerald set a $36.00 price objective on shares of LTC Properties in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, LTC Properties has an average rating of “Hold” and a consensus price target of $38.60.

LTC Properties 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.