Versor Investments LP Reduces Stock Position in LTC Properties, Inc. (NYSE:LTC)

Versor Investments LP reduced its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 17.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,700 shares of the real estate investment trust’s stock after selling 1,400 shares during the period. Versor Investments LP’s holdings in LTC Properties were worth $246,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC boosted its stake in LTC Properties by 3,401.1% during the 2nd 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 during the last quarter. Vanguard Group Inc. grew its stake in LTC Properties by 1.4% in the first 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 in the last quarter. abrdn plc increased its holdings in LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after buying an additional 48,869 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of LTC Properties by 180.4% in the 2nd 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 acquiring an additional 30,258 shares in the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. 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. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.

LTC Properties Trading Up 0.1 %

Shares of NYSE LTC opened at $38.20 on Friday. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $39.89. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.90. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock’s 50 day simple moving average is $36.93 and its 200 day simple moving average is $35.74.

LTC Properties (NYSE:LTC) last announced 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period last year, the firm posted $0.65 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Equities research analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

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 issued a dividend of $0.19 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.97%. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

Insider Activity

In related news, Director Timothy Triche sold 5,000 shares of LTC Properties stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the sale, the director now directly owns 34,522 shares in the company, valued at $1,258,326.90. The trade was a 12.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clint B. Malin sold 6,000 shares of the stock in a transaction dated 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 owns 158,585 shares of the company’s stock, valued at $6,145,168.75. This represents a 3.65 % decrease in their position. 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.