Illinois Municipal Retirement Fund Increases Stock Position in LTC Properties, Inc. (NYSE:LTC)

Illinois Municipal Retirement Fund increased its holdings in LTC Properties, Inc. (NYSE:LTC) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,485 shares of the real estate investment trust’s stock after acquiring an additional 1,301 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of LTC Properties worth $811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LTC. State Street Corp increased its stake in LTC Properties by 5.8% in the third quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock valued at $121,262,000 after purchasing an additional 181,973 shares during the period. Geode Capital Management LLC grew its holdings in shares of LTC Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,125,020 shares of the real estate investment trust’s stock worth $41,284,000 after buying an additional 8,351 shares during the last quarter. Bank of New York Mellon Corp increased its position in LTC Properties by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 962,651 shares of the real estate investment trust’s stock valued at $33,260,000 after acquiring an additional 55,254 shares during the period. Charles Schwab Investment Management Inc. raised its stake in LTC Properties by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its position in LTC Properties by 3,358.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after acquiring an additional 638,999 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Insider Transactions at LTC Properties

In related news, Director David L. Gruber acquired 3,000 shares of LTC Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $37.16 per share, for a total transaction of $111,480.00. Following the completion of the purchase, the director now directly owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Price Performance

Shares of NYSE:LTC opened at $35.75 on Tuesday. LTC Properties, Inc. has a 52 week low of $31.14 and a 52 week high of $39.89. The company has a 50-day moving average price of $34.43 and a 200 day moving average price of $36.09. The company has a market cap of $1.62 billion, a P/E ratio of 15.34 and a beta of 0.93. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $34.81 million during the quarter, compared to the consensus estimate of $45.25 million. Research analysts predict that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently announced a jan 25 dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 21st will be given a dividend of $0.19 per share. The ex-dividend date is Friday, March 21st. This represents a dividend yield of 6.45%. LTC Properties’s payout ratio is currently 111.22%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LTC. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 7th. Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th.

LTC Properties Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.