abrdn plc Grows Position in LTC Properties, Inc. (NYSE:LTC)

abrdn plc increased its position in shares of LTC Properties, Inc. (NYSE:LTC) by 2,190.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,978 shares of the real estate investment trust’s stock after purchasing an additional 181,683 shares during the period. abrdn plc owned approximately 0.46% of LTC Properties worth $6,102,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of LTC Properties by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 645,018 shares of the real estate investment trust’s stock worth $20,724,000 after purchasing an additional 28,337 shares during the period. Advisors Capital Management LLC boosted its position in LTC Properties by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 416,764 shares of the real estate investment trust’s stock valued at $13,391,000 after buying an additional 15,306 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in LTC Properties by 4.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284,952 shares of the real estate investment trust’s stock valued at $9,153,000 after buying an additional 12,056 shares during the period. Rhumbline Advisers boosted its position in LTC Properties by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 137,631 shares of the real estate investment trust’s stock valued at $4,422,000 after buying an additional 773 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in LTC Properties by 14.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 130,310 shares of the real estate investment trust’s stock valued at $4,259,000 after buying an additional 16,602 shares during the period. 69.25% of the stock is owned by hedge funds and other institutional investors.

LTC Properties Price Performance

Shares of LTC opened at $32.56 on Friday. The company has a 50 day moving average price of $32.02 and a 200-day moving average price of $32.10. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The stock has a market capitalization of $1.41 billion, a PE ratio of 15.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 7.00%. LTC Properties’s payout ratio is presently 105.56%.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft began coverage on shares of LTC Properties in a research report on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.86.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the sale, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

LTC Properties 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.