AlphaQuest LLC Grows Holdings in LTC Properties, Inc. $LTC

AlphaQuest LLC raised its position in LTC Properties, Inc. (NYSE:LTC) by 179.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,456 shares of the real estate investment trust’s stock after buying an additional 14,427 shares during the period. AlphaQuest LLC’s holdings in LTC Properties were worth $828,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Y Intercept Hong Kong Ltd increased its position in shares of LTC Properties by 3.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 59,311 shares of the real estate investment trust’s stock worth $2,186,000 after acquiring an additional 1,911 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in LTC Properties by 13.9% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 20,731 shares of the real estate investment trust’s stock valued at $754,000 after purchasing an additional 2,533 shares in the last quarter. Amalgamated Bank increased its holdings in LTC Properties by 3.5% during the 3rd quarter. Amalgamated Bank now owns 13,496 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 452 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in LTC Properties by 2.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 50,299 shares of the real estate investment trust’s stock worth $1,854,000 after purchasing an additional 1,159 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of LTC Properties by 2.3% in the 3rd quarter. ORG Partners LLC now owns 15,839 shares of the real estate investment trust’s stock valued at $584,000 after purchasing an additional 350 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David L. Gruber bought 4,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $35.41 per share, with a total value of $141,640.00. Following the completion of the acquisition, the director owned 28,738 shares of the company’s stock, valued at $1,017,612.58. This trade represents a 16.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David M. Boitano purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were bought at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the transaction, the executive vice president directly owned 25,626 shares in the company, valued at approximately $882,559.44. This trade represents a 64.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 15,000 shares of company stock valued at $521,980. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LTC. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. Wells Fargo & Company increased their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Cantor Fitzgerald set a $36.00 target price on shares of LTC Properties in a research report on Monday, January 5th. Royal Bank Of Canada upped their target price on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LTC Properties currently has a consensus rating of “Hold” and a consensus target price of $38.60.

LTC Properties Stock Down 0.8%

Shares of NYSE:LTC opened at $36.19 on Tuesday. The company’s fifty day moving average is $35.47 and its two-hundred day moving average is $35.58. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68. LTC Properties, Inc. has a 1-year low of $31.70 and a 1-year high of $37.95. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 50.26 and a beta of 0.62.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. LTC Properties had a net margin of 14.58% and a return on equity of 3.22%. The business had revenue of $50.05 million during the quarter, compared to analyst estimates of $65.94 million. During the same period in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was up 24.2% on a year-over-year basis. Equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a $0.19 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, March 23rd. LTC Properties’s payout ratio is presently 316.67%.

LTC Properties Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.