Schwab Charles Investment Management Inc. increased its position in LTC Properties Inc (NYSE:LTC) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,873 shares of the real estate investment trust’s stock after purchasing an additional 27,398 shares during the period. Schwab Charles Investment Management Inc. owned approximately 1.00% of LTC Properties worth $18,646,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Uniplan Investment Counsel Inc. boosted its stake in LTC Properties by 89.0% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,324,700 shares of the real estate investment trust’s stock worth $36,538,000 after purchasing an additional 623,870 shares during the period. Koch Industries Inc. bought a new position in shares of LTC Properties during the 2nd quarter valued at approximately $362,000. Janus Henderson Group PLC bought a new position in shares of LTC Properties during the 2nd quarter valued at approximately $8,975,000. Crossmark Global Holdings Inc. bought a new stake in LTC Properties in the third quarter worth $5,262,000. Finally, Victory Capital Management Inc. lifted its position in LTC Properties by 7.7% in the third quarter. Victory Capital Management Inc. now owns 1,061,481 shares of the real estate investment trust’s stock worth $49,869,000 after buying an additional 76,325 shares during the last quarter. Institutional investors own 77.52% of the company’s stock.
Shares of LTC Properties Inc (NYSE LTC) traded down $0.15 during mid-day trading on Thursday, reaching $41.04. The company had a trading volume of 242,820 shares, compared to its average volume of 242,174. The stock has a market capitalization of $1,620.00, a PE ratio of 18.49, a P/E/G ratio of 3.40 and a beta of 0.18. LTC Properties Inc has a 52 week low of $40.65 and a 52 week high of $52.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 8.66 and a current ratio of 8.66.
The company also recently declared a monthly dividend, which will be paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, February 16th. LTC Properties’s payout ratio is 102.70%.
In other news, Director Timothy Triche sold 2,720 shares of the company’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $43.35, for a total value of $117,912.00. Following the transaction, the director now owns 34,656 shares of the company’s stock, valued at approximately $1,502,337.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Boyd W. Hendrickson sold 1,500 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $47.07, for a total value of $70,605.00. The disclosure for this sale can be found here. Insiders have sold 9,727 shares of company stock worth $436,470 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on LTC. BMO Capital Markets reiterated a “sell” rating and issued a $44.00 target price on shares of LTC Properties in a research note on Wednesday, October 18th. Zacks Investment Research lowered LTC Properties from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. ValuEngine lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of LTC Properties in a research note on Monday, October 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of LTC Properties in a research note on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.71.
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LTC Properties Company Profile
LTC Properties Inc is a healthcare real estate investment trust (REIT). The Company invests in senior housing and healthcare properties through sale-leaseback transactions, mortgage financing and structured finance solutions, including mezzanine lending. It invests in various properties, including Skilled nursing facilities (SNF), Assisted living facilities (ALF), Independent living facilities (ILF), Memory care facilities (MC) and Range of care facilities (ROC).
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