Keudell Morrison Wealth Management Sells 383 Shares of LTC Properties, Inc. (NYSE:LTC)

Keudell Morrison Wealth Management lowered its position in LTC Properties, Inc. (NYSE:LTC) by 1.0% in the third quarter, Holdings Channel.com reports. The fund owned 37,847 shares of the real estate investment trust’s stock after selling 383 shares during the period. Keudell Morrison Wealth Management’s holdings in LTC Properties were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of LTC Properties in the 3rd quarter worth approximately $36,000. GAMMA Investing LLC raised its holdings in shares of LTC Properties by 91.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 437 shares in the last quarter. Community Trust & Investment Co. acquired a new position in shares of LTC Properties in the 3rd quarter worth approximately $202,000. Finally, Walleye Trading LLC acquired a new position in shares of LTC Properties in the 1st quarter worth approximately $209,000. Institutional investors own 69.25% of the company’s stock.

LTC Properties Price Performance

LTC stock traded up $0.33 during midday trading on Thursday, reaching $38.26. 15,697 shares of the company’s stock traded hands, compared to its average volume of 281,189. The company has a 50-day simple moving average of $36.62 and a two-hundred day simple moving average of $35.42. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.64. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 16.28 and a beta of 0.90. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

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 for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period in the prior year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders 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 dividend on an annualized basis and a yield of 5.96%. LTC Properties’s payout ratio is 97.85%.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the stock in a transaction 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 transaction, the director now directly owns 34,522 shares in the company, valued at approximately $1,258,326.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. 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 report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.

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.