Aurora Private Wealth Inc. Takes Position in LTC Properties, Inc. (NYSE:LTC)

Aurora Private Wealth Inc. acquired a new position in shares of LTC Properties, Inc. (NYSE:LTC) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,821 shares of the real estate investment trust’s stock, valued at approximately $1,022,000. Aurora Private Wealth Inc. owned about 0.06% of LTC Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LTC. GF Fund Management CO. LTD. acquired a new stake in LTC Properties during the fourth quarter worth approximately $27,000. KBC Group NV bought a new position in shares of LTC Properties during the 1st quarter worth approximately $33,000. Rossby Financial LCC acquired a new stake in shares of LTC Properties during the 1st quarter worth approximately $58,000. AlphaQuest LLC increased its stake in shares of LTC Properties by 23,470.0% in the 4th quarter. AlphaQuest LLC now owns 2,357 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 2,347 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of LTC Properties by 28.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,546 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 565 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LTC Properties

In related news, EVP David M. Boitano acquired 6,000 shares of the stock in a transaction dated Friday, June 27th. The stock was purchased at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the purchase, the executive vice president directly owned 15,626 shares in the company, valued at $542,378.46. This trade represents a 62.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LTC has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of LTC Properties from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Royal Bank Of Canada restated a “sector perform” rating and issued a $36.00 target price on shares of LTC Properties in a research note on Monday, May 19th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, LTC Properties currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

LTC Properties Price Performance

Shares of NYSE:LTC opened at $35.15 on Friday. LTC Properties, Inc. has a twelve month low of $31.70 and a twelve month high of $39.89. The stock’s 50 day moving average is $35.29 and its 200-day moving average is $34.95. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 18.12 and a beta of 0.65.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. The business had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Sell-side analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.28 annualized dividend and a yield of 6.49%. LTC Properties’s payout ratio is 117.53%.

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.