LTC Properties, Inc. (NYSE:LTC) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in LTC Properties, Inc. (NYSE:LTC) by 22.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,439 shares of the real estate investment trust’s stock after buying an additional 5,270 shares during the quarter. Penserra Capital Management LLC’s holdings in LTC Properties were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Strategic Financial Concepts LLC raised its position in LTC Properties by 3,401.1% in 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 purchasing an additional 654,136 shares during the last quarter. Vanguard Group Inc. grew its position in LTC Properties by 1.4% during 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 last quarter. abrdn plc increased its stake 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 purchasing an additional 48,869 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of LTC Properties by 5.5% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of LTC Properties by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock worth $27,683,000 after buying an additional 30,422 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, 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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now directly owns 34,522 shares in the company, valued at $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

LTC has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company reiterated 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 Stock Up 1.2 %

Shares of NYSE:LTC opened at $38.91 on Wednesday. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $39.89. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $37.08 and its 200-day simple moving average is $35.96. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 16.49 and a beta of 0.90.

LTC Properties (NYSE:LTC) last announced 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). The business had revenue of $55.78 million during 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%. LTC Properties’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. As a group, equities research analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 5.86%. The ex-dividend date is Monday, December 23rd. LTC Properties’s payout ratio is 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.