Heitman Real Estate Securities LLC Acquires New Position in LTC Properties, Inc. (NYSE:LTC)

Heitman Real Estate Securities LLC bought a new position in LTC Properties, Inc. (NYSE:LTC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,434 shares of the real estate investment trust’s stock, valued at approximately $896,000. Heitman Real Estate Securities LLC owned about 0.05% of LTC Properties at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of LTC Properties by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 654,136 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 buying an additional 31,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in LTC Properties by 312.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 332,173 shares of the real estate investment trust’s stock valued at $12,187,000 after acquiring an additional 251,609 shares during the period. Finally, abrdn plc grew its holdings in shares of LTC Properties by 25.7% in the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock worth $8,761,000 after purchasing an additional 48,869 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

LTC Properties Stock Down 1.3 %

LTC opened at $38.09 on Tuesday. 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 company has a 50-day moving average price of $37.27 and a 200 day moving average price of $36.11. The company has a market cap of $1.72 billion, a PE ratio of 16.35 and a beta of 0.91. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $39.89.

LTC Properties (NYSE:LTC) last released its earnings results 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 business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Sell-side analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

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 paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.28 annualized dividend and a yield of 5.99%. LTC Properties’s dividend payout ratio is currently 97.85%.

Wall Street Analysts Forecast Growth

LTC has been the subject of several research reports. 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 report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.

Insider Activity at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the company’s 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 sale, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.