LTC Properties, Inc. (NYSE:LTC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 5.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 34,153 shares of the real estate investment trust’s stock after selling 1,938 shares during the period. Thrivent Financial for Lutherans’ holdings in LTC Properties were worth $1,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of LTC Properties by 7.9% during the third quarter. Assetmark Inc. now owns 13,059 shares of the real estate investment trust’s stock worth $479,000 after acquiring an additional 957 shares during the period. Principal Financial Group Inc. increased its holdings in LTC Properties by 6.9% during the 3rd quarter. Principal Financial Group Inc. now owns 229,176 shares of the real estate investment trust’s stock worth $8,408,000 after purchasing an additional 14,778 shares during the period. QRG Capital Management Inc. increased its holdings in LTC Properties by 17.6% during the 3rd quarter. QRG Capital Management Inc. now owns 8,148 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 1,217 shares during the period. Van ECK Associates Corp raised its position in LTC Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 7,382 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 811 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of LTC Properties in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LTC shares. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company reissued an “equal weight” rating and issued a $37.00 price objective (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

LTC Properties Trading Down 0.3 %

NYSE:LTC opened at $38.59 on Monday. LTC Properties, Inc. has a 1 year low of $30.30 and a 1 year high of $39.89. The stock has a market cap of $1.75 billion, a P/E ratio of 16.56 and a beta of 0.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60. The stock has a 50-day simple moving average of $37.24 and a 200-day simple moving average of $36.08.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to analyst estimates of $35.45 million. LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. As a group, analysts anticipate 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. Investors of record on Monday, December 23rd will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Monday, December 23rd. LTC Properties’s dividend payout ratio (DPR) is 97.85%.

Insider Buying and Selling

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’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 transaction, the insider now owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

About LTC Properties

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.