LTC Properties, Inc. (NYSE:LTC) Shares Sold by Cambria Investment Management L.P.

Cambria Investment Management L.P. decreased its position in LTC Properties, Inc. (NYSE:LTCFree Report) by 9.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,391 shares of the real estate investment trust’s stock after selling 778 shares during the period. Cambria Investment Management L.P.’s holdings in LTC Properties were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Money Concepts Capital Corp lifted its holdings in shares of LTC Properties by 3,395.0% during the fourth quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 679 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of LTC Properties during the fourth quarter valued at $26,000. Spire Wealth Management lifted its holdings in shares of LTC Properties by 108.1% during the first quarter. Spire Wealth Management now owns 999 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 519 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of LTC Properties during the second quarter valued at $41,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of LTC Properties by 59.1% during the third quarter. Tower Research Capital LLC TRC now owns 2,340 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 869 shares during the last quarter. Institutional investors and hedge funds own 70.28% of the company’s stock.

LTC Properties Stock Performance

Shares of NYSE LTC opened at $32.69 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 12.15 and a current ratio of 12.15. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 16.94 and a beta of 0.93. The business’s 50-day simple moving average is $31.87 and its 200-day simple moving average is $32.74. LTC Properties, Inc. has a 52 week low of $30.50 and a 52 week high of $40.03.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 21st 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 6.97%. The ex-dividend date is Wednesday, December 20th. LTC Properties’s dividend payout ratio is 118.13%.

Insider Activity

In other news, CFO Pamela Shelley-Kessler sold 15,500 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $32.54, for a total transaction of $504,370.00. Following the transaction, the chief financial officer now owns 145,706 shares of the company’s stock, valued at approximately $4,741,273.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other LTC Properties news, Director David L. Gruber bought 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average price of $31.33 per share, for a total transaction of $109,655.00. Following the purchase, the director now directly owns 9,053 shares in the company, valued at $283,630.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Pamela Shelley-Kessler sold 15,500 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $32.54, for a total value of $504,370.00. Following the sale, the chief financial officer now owns 145,706 shares of the company’s stock, valued at approximately $4,741,273.24. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LTC. Berenberg Bank began coverage on LTC Properties in a research report on Thursday, September 28th. They set a “buy” rating and a $36.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $32.00 price target on shares of LTC Properties in a research report on Thursday, August 17th. Jefferies Financial Group began coverage on LTC Properties in a research report on Wednesday, September 20th. They set a “hold” rating and a $29.00 price target on the stock. Wedbush began coverage on LTC Properties in a research report on Tuesday, October 3rd. They set an “outperform” rating and a $36.00 price target on the stock. Finally, StockNews.com began coverage on LTC Properties in a research report on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.78.

Get Our Latest Stock Analysis on LTC

About LTC Properties

(Free Report)

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 208 properties in 27 states with 29 operating partners.

Further Reading

Want to see what other hedge funds are holding LTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LTC Properties, Inc. (NYSE:LTCFree Report).

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

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