Insider Selling: LTC Properties, Inc. (NYSE:LTC) Director Sells $47,828.00 in Stock

LTC Properties, Inc. (NYSE:LTCGet Rating) Director Timothy Triche sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $43.48, for a total value of $47,828.00. Following the sale, the director now owns 42,413 shares of the company’s stock, valued at $1,844,117.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

LTC Properties Stock Performance

NYSE LTC opened at $42.16 on Monday. The stock has a market cap of $1.71 billion, a PE ratio of 18.17 and a beta of 0.87. The company has a current ratio of 15.51, a quick ratio of 15.51 and a debt-to-equity ratio of 0.91. LTC Properties, Inc. has a twelve month low of $31.36 and a twelve month high of $45.49. The stock has a fifty day simple moving average of $42.62 and a 200-day simple moving average of $38.96.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Wednesday, September 21st. LTC Properties’s dividend payout ratio is presently 98.28%.

Hedge Funds Weigh In On LTC Properties

A number of hedge funds have recently modified their holdings of LTC. Bank of America Corp DE grew its holdings in shares of LTC Properties by 62.5% during the 4th quarter. Bank of America Corp DE now owns 95,079 shares of the real estate investment trust’s stock worth $3,245,000 after purchasing an additional 36,584 shares during the period. Teacher Retirement System of Texas lifted its stake in LTC Properties by 19.6% during the 4th quarter. Teacher Retirement System of Texas now owns 7,572 shares of the real estate investment trust’s stock worth $259,000 after acquiring an additional 1,242 shares in the last quarter. Citigroup Inc. lifted its stake in LTC Properties by 2.0% during the 4th quarter. Citigroup Inc. now owns 94,386 shares of the real estate investment trust’s stock worth $3,222,000 after acquiring an additional 1,855 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LTC Properties by 15.7% during the 4th quarter. JPMorgan Chase & Co. now owns 327,568 shares of the real estate investment trust’s stock worth $11,182,000 after acquiring an additional 44,375 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in LTC Properties by 1.6% during the 4th quarter. Rhumbline Advisers now owns 118,131 shares of the real estate investment trust’s stock worth $4,033,000 after acquiring an additional 1,809 shares in the last quarter. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LTC shares. StockNews.com cut LTC Properties from a “buy” rating to a “hold” rating in a research report on Friday. Capital One Financial started coverage on LTC Properties in a research report on Friday, June 3rd. They set an “equal weight” rating and a $41.00 price target for the company. Berenberg Bank upgraded LTC Properties from a “hold” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $47.00 in a research report on Monday, August 1st. Barclays boosted their price target on LTC Properties to $35.00 in a research report on Tuesday, August 9th. Finally, Royal Bank of Canada boosted their price target on LTC Properties from $39.00 to $44.00 in a research report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.00.

About LTC Properties

(Get Rating)

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 holds 181 investments in 27 states with 29 operating partners.

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