BNP Paribas Financial Markets Reduces Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

BNP Paribas Financial Markets decreased its stake in LTC Properties, Inc. (NYSE:LTC) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 9,514 shares of the real estate investment trust’s stock after selling 2,712 shares during the period. BNP Paribas Financial Markets’ holdings in LTC Properties were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LTC. Strategic Financial Concepts LLC boosted its holdings in LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 654,136 shares during the period. abrdn plc boosted its holdings in LTC Properties by 25.7% during the 3rd quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock valued at $8,761,000 after acquiring an additional 48,869 shares during the period. Dimensional Fund Advisors LP boosted its holdings in LTC Properties by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock valued at $21,180,000 after acquiring an additional 31,980 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in LTC Properties by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,512 shares of the real estate investment trust’s stock valued at $27,683,000 after acquiring an additional 30,422 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in LTC Properties by 180.4% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after acquiring an additional 30,258 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LTC shares. Wedbush restated an “outperform” rating and set a $40.00 price objective on shares of LTC Properties in a report on Friday, September 20th. Wells Fargo & Company restated an “equal weight” rating and set a $37.00 price objective (up previously from $36.00) on shares of LTC Properties in a report on Tuesday, October 1st.

LTC Properties Price Performance

Shares of LTC stock opened at $37.15 on Friday. LTC Properties, Inc. has a twelve month low of $30.30 and a twelve month high of $39.89. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 15.94 and a beta of 0.91. The stock has a fifty day simple moving average of $37.46 and a two-hundred day simple moving average of $36.29. The company has a current ratio of 11.60, a quick ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties (NYSE:LTC) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share 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 firm had revenue of $55.78 million during the quarter, compared to analysts’ expectations of $35.45 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. LTC Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Monday, December 23rd. LTC Properties’s dividend payout ratio is 97.85%.

Insiders Place Their Bets

In other news, insider Clint B. Malin sold 6,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $38.75, for a total value of $232,500.00. Following the completion of the transaction, the insider now directly owns 158,585 shares of the company’s stock, valued at approximately $6,145,168.75. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David L. Gruber purchased 3,000 shares of LTC Properties stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $37.16 per share, with a total value of $111,480.00. Following the completion of the transaction, the director now owns 21,516 shares in the company, valued at approximately $799,534.56. This represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

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.