Assetmark Inc. Boosts Stock Position in LTC Properties, Inc. (NYSE:LTC)

Assetmark Inc. increased its holdings in LTC Properties, Inc. (NYSE:LTC) by 7.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 13,059 shares of the real estate investment trust’s stock after acquiring an additional 957 shares during the quarter. Assetmark Inc.’s holdings in LTC Properties were worth $479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in LTC Properties by 25.4% in the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 366 shares during the last quarter. Amalgamated Bank grew its stake in shares of LTC Properties by 2.9% during the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 372 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of LTC Properties by 0.5% during the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 375 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of LTC Properties by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Activity at LTC Properties

In related news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 158,585 shares in the company, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 12.65 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

LTC Properties Trading Up 0.1 %

Shares of LTC stock opened at $38.20 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The firm has a fifty day moving average price of $36.93 and a 200-day moving average price of $35.72. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.90.

LTC Properties (NYSE:LTC) last announced its 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). The business had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. As a group, equities analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is presently 97.85%.

About LTC Properties

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.