LTC Properties, Inc. (NYSE:LTC) Shares Purchased by Texas Permanent School Fund

Texas Permanent School Fund boosted its holdings in LTC Properties, Inc. (NYSE:LTCGet Rating) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,522 shares of the real estate investment trust’s stock after acquiring an additional 608 shares during the quarter. Texas Permanent School Fund’s holdings in LTC Properties were worth $1,095,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LTC. Meeder Asset Management Inc. acquired a new stake in LTC Properties in the 1st quarter valued at approximately $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in LTC Properties in the 1st quarter valued at approximately $38,000. Private Capital Group LLC increased its position in LTC Properties by 37.9% in the 2nd quarter. Private Capital Group LLC now owns 1,583 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 435 shares during the period. KBC Group NV acquired a new stake in LTC Properties in the 2nd quarter valued at approximately $123,000. Finally, Van ECK Associates Corp boosted its stake in LTC Properties by 15.1% during the 1st quarter. Van ECK Associates Corp now owns 3,487 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 457 shares in the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LTC has been the subject of a number of research reports. Berenberg Bank raised LTC Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $34.00 to $47.00 in a research note on Monday, August 1st. TheStreet raised LTC Properties from a “c+” rating to a “b” rating in a research note on Friday, July 29th. Barclays increased their price target on LTC Properties to $35.00 in a research note on Tuesday, August 9th. StockNews.com lowered LTC Properties from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Finally, Royal Bank of Canada decreased their price target on LTC Properties from $44.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, November 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.43.

LTC Properties Stock Performance

LTC opened at $38.95 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 16.50 and a beta of 0.91. The company has a quick ratio of 15.57, a current ratio of 15.57 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $38.77 and a 200-day simple moving average of $39.53. LTC Properties, Inc. has a fifty-two week low of $31.36 and a fifty-two week high of $45.49.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 22nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, December 21st. This represents a $2.28 annualized dividend and a dividend yield of 5.85%. LTC Properties’s dividend payout ratio (DPR) is presently 96.61%.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 1,100 shares of the firm’s stock in a transaction 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 completion of 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 SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

LTC Properties Company Profile

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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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Institutional Ownership by Quarter for LTC Properties (NYSE:LTC)

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