Clint B. Malin Sells 6,000 Shares of LTC Properties, Inc. (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) insider Clint B. Malin sold 6,000 shares of LTC Properties stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now owns 158,585 shares of the company’s stock, valued at $6,145,168.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

LTC Properties Stock Performance

Shares of LTC opened at $39.28 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 one year low of $30.30 and a one year high of $39.67. The firm has a market capitalization of $1.78 billion, a P/E ratio of 16.86 and a beta of 0.90. The business has a fifty day moving average of $36.71 and a 200 day moving average of $35.52.

LTC Properties (NYSE:LTC) last released its quarterly 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same period in the prior year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 EPS 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 given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a dividend yield of 5.80%. LTC Properties’s payout ratio is 97.85%.

Institutional Investors Weigh In On LTC Properties

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of LTC Properties by 1.4% in the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock worth $217,667,000 after buying an additional 91,963 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of LTC Properties by 3,401.1% in the second quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 654,136 shares in the last quarter. Dimensional Fund Advisors LP raised its position in LTC Properties by 5.5% during 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 purchasing an additional 31,980 shares during the period. abrdn plc raised its position in LTC Properties by 25.7% during 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. Finally, Principal Financial Group Inc. raised its position in LTC Properties by 6.9% during the third quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock valued at $8,408,000 after purchasing an additional 14,778 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LTC has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of LTC Properties in a research note on Friday, September 20th.

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.