Edgestream Partners L.P. Takes $2.72 Million Position in LTC Properties, Inc. (NYSE:LTC)

Edgestream Partners L.P. purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 74,066 shares of the real estate investment trust’s stock, valued at approximately $2,717,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LTC. Harbor Capital Advisors Inc. bought a new position in shares of LTC Properties during the third quarter worth approximately $36,000. GAMMA Investing LLC increased its stake in LTC Properties by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 687 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in LTC Properties by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 437 shares in the last quarter. FMR LLC lifted its position in shares of LTC Properties by 132.7% during the 3rd quarter. FMR LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,653 shares during the period. Finally, Community Trust & Investment Co. acquired a new stake in shares of LTC Properties during the 3rd quarter worth $202,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Price Performance

LTC Properties stock opened at $38.59 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.89. The stock has a market capitalization of $1.75 billion, a P/E ratio of 16.56 and a beta of 0.90. The stock has a fifty day moving average of $37.24 and a 200-day moving average of $36.08.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period in the previous year, the firm posted $0.65 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.91%. LTC Properties’s payout ratio is presently 97.85%.

Insider Transactions at LTC Properties

In other news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $38.75, for a total transaction of $232,500.00. Following the sale, the insider now directly owns 158,585 shares in the company, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

LTC has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective on shares of LTC Properties in a research report on Friday, September 20th. Wells Fargo & Company restated an “equal weight” rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

LTC Properties 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.