US Bancorp DE Sells 1,415 Shares of LTC Properties, Inc. (NYSE:LTC)

US Bancorp DE reduced its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 19.6% in the third quarter, Holdings Channel reports. The firm owned 5,790 shares of the real estate investment trust’s stock after selling 1,415 shares during the period. US Bancorp DE’s holdings in LTC Properties were worth $212,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC raised its holdings in shares of LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 654,136 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of LTC Properties by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock worth $217,667,000 after purchasing an additional 91,963 shares during the period. abrdn plc boosted its stake in shares of LTC Properties by 25.7% during the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after purchasing an additional 48,869 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in LTC Properties by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 31,980 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in LTC Properties by 180.4% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after buying an additional 30,258 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Trading Down 1.1 %

NYSE:LTC opened at $38.16 on Friday. The firm has a 50 day moving average of $36.87 and a 200 day moving average of $35.66. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.89. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.38 and a beta of 0.90.

LTC Properties (NYSE:LTC) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.97%. LTC Properties’s payout ratio is 97.85%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total transaction of $232,500.00. Following the completion of the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy Triche sold 5,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. The trade was a 12.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Company Profile

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.