Insider Buying: LTC Properties, Inc. (NYSE:LTC) Director Buys $111,480.00 in Stock

LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the acquisition, the director now directly owns 21,516 shares of the company’s stock, valued at $799,534.56. This represents a 16.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

LTC Properties Stock Up 0.9 %

Shares of NYSE:LTC opened at $37.15 on Friday. The company has a market capitalization of $1.68 billion, a PE ratio of 15.94 and a beta of 0.91. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.60. The business has a fifty day moving average price of $37.46 and a two-hundred day moving average price of $36.29.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. Analysts forecast that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a $0.19 dividend. The ex-dividend date is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.14%. LTC Properties’s dividend payout ratio (DPR) is presently 97.85%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On LTC Properties

Several institutional investors and hedge funds have recently bought and sold shares of LTC. Sanctuary Advisors LLC bought a new stake in shares of LTC Properties in the third quarter valued at $270,000. Geode Capital Management LLC increased its holdings in LTC Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock worth $41,284,000 after acquiring an additional 8,351 shares during the last quarter. Barclays PLC raised its stake in LTC Properties by 148.8% in the 3rd quarter. Barclays PLC now owns 87,972 shares of the real estate investment trust’s stock valued at $3,228,000 after acquiring an additional 52,619 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in LTC Properties in the 3rd quarter valued at about $826,000. Finally, Jane Street Group LLC lifted its holdings in LTC Properties by 78.2% during the third quarter. Jane Street Group LLC now owns 84,398 shares of the real estate investment trust’s stock valued at $3,097,000 after purchasing an additional 37,049 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

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.