abrdn plc lifted its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 25.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,793 shares of the real estate investment trust's stock after acquiring an additional 48,869 shares during the quarter. abrdn plc owned 0.55% of LTC Properties worth $8,761,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of LTC Properties by 25.4% during the third quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 366 shares during the period. Amalgamated Bank increased its holdings in LTC Properties by 2.9% in the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust's stock valued at $451,000 after buying an additional 372 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in LTC Properties by 35.0% in the third 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 buying an additional 437 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in LTC Properties by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust's stock valued at $420,000 after buying an additional 447 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in LTC Properties by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 36,243 shares of the real estate investment trust's stock valued at $1,178,000 after buying an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 69.25% of the company's stock.
In other news, Director Timothy Triche sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares in the company, valued at approximately $1,258,326.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.
Several equities analysts recently commented on the company. Wells Fargo & Company reissued an "equal weight" rating and issued a $37.00 target price (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st. Wedbush reissued an "outperform" rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th.
Check Out Our Latest Analysis on LTC Properties
NYSE LTC opened at $37.30 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.29. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.64. The company has a market capitalization of $1.69 billion, a PE ratio of 16.01 and a beta of 0.90. The company has a fifty day moving average of $36.53 and a two-hundred day moving average of $35.27.
LTC Properties (NYSE:LTC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The company had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. During the same quarter in the prior year, the company earned $0.65 EPS. The business's revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that LTC Properties, Inc. will post 2.74 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 6.11%. LTC Properties's dividend payout ratio is presently 97.85%.
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.
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