Illinois Municipal Retirement Fund Sells 583 Shares of LTC Properties, Inc. (NYSE:LTC)

Illinois Municipal Retirement Fund trimmed its position in LTC Properties, Inc. (NYSE:LTC) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,256 shares of the real estate investment trust’s stock after selling 583 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of LTC Properties worth $747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LTC. abrdn plc grew its stake in LTC Properties by 2,190.3% in the 4th quarter. abrdn plc now owns 189,978 shares of the real estate investment trust’s stock valued at $6,102,000 after buying an additional 181,683 shares during the last quarter. GraniteShares Advisors LLC grew its stake in LTC Properties by 14.5% in the 4th quarter. GraniteShares Advisors LLC now owns 45,348 shares of the real estate investment trust’s stock valued at $1,457,000 after buying an additional 5,728 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in LTC Properties in the 4th quarter valued at about $665,000. Mirae Asset Global Investments Co. Ltd. grew its stake in LTC Properties by 4.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 284,952 shares of the real estate investment trust’s stock valued at $9,153,000 after buying an additional 12,056 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in LTC Properties by 11.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 66,318 shares of the real estate investment trust’s stock valued at $2,180,000 after buying an additional 6,565 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of the company’s 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 sale, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

LTC Properties Stock Performance

Shares of NYSE:LTC opened at $32.49 on Tuesday. The company’s 50 day moving average price is $32.04 and its two-hundred day moving average price is $32.10. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $35.72. The firm has a market cap of $1.41 billion, a PE ratio of 15.04 and a beta of 0.87. The company has a quick ratio of 13.29, a current ratio of 13.29 and a debt-to-equity ratio of 0.97.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th 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 7.02%. The ex-dividend date of this dividend is Thursday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 105.56%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft initiated coverage on shares of LTC Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $34.00 target price on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.50.

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.