LTC Properties, Inc. (NYSE:LTC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in LTC Properties, Inc. (NYSE:LTC) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 284,952 shares of the real estate investment trust’s stock after acquiring an additional 12,056 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.69% of LTC Properties worth $9,153,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Money Concepts Capital Corp raised its holdings in LTC Properties by 3,395.0% in the 4th quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 679 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in LTC Properties in the 4th quarter valued at about $26,000. Point72 Hong Kong Ltd acquired a new stake in LTC Properties in the 2nd quarter valued at about $41,000. FMR LLC raised its holdings in LTC Properties by 73.3% in the 3rd quarter. FMR LLC now owns 1,168 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 494 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of LTC Properties by 69.2% in the 4th quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 512 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Stock Performance

LTC Properties stock opened at $31.62 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 14.64 and a beta of 0.87. The firm has a 50 day simple moving average of $31.81 and a 200-day simple moving average of $32.08. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $35.72.

LTC Properties Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.21%. LTC Properties’s payout ratio is currently 105.56%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.13.

Insider Buying and Selling

In related news, Director Timothy Triche sold 3,082 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $97,606.94. Following the completion of the transaction, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Company Profile

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.