Jane Street Group LLC Raises Stock Holdings in LTC Properties, Inc. (NYSE:LTC)

Jane Street Group LLC boosted its holdings in LTC Properties, Inc. (NYSE:LTC) by 78.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,398 shares of the real estate investment trust’s stock after purchasing an additional 37,049 shares during the period. Jane Street Group LLC owned about 0.19% of LTC Properties worth $3,097,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Two Sigma Advisers LP boosted its holdings in shares of LTC Properties by 33.1% in the 3rd quarter. Two Sigma Advisers LP now owns 313,100 shares of the real estate investment trust’s stock worth $11,488,000 after buying an additional 77,900 shares during the last quarter. State Street Corp raised its position in LTC Properties by 5.8% in the third quarter. State Street Corp now owns 3,305,037 shares of the real estate investment trust’s stock worth $121,262,000 after acquiring an additional 181,973 shares during the period. Stifel Financial Corp purchased a new position in LTC Properties in the third quarter valued at about $283,000. Heitman Real Estate Securities LLC bought a new position in shares of LTC Properties during the 3rd quarter valued at approximately $896,000. Finally, HighTower Advisors LLC increased its stake in shares of LTC Properties by 26.7% during the 3rd quarter. HighTower Advisors LLC now owns 17,060 shares of the real estate investment trust’s stock worth $633,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, insider Clint B. Malin sold 6,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were 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 $6,145,168.75. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $37.16 per share, for a total transaction of $111,480.00. Following the acquisition, the director now owns 21,516 shares of the company’s stock, valued at approximately $799,534.56. This trade represents a 16.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

LTC has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $40.00 price objective on shares of LTC Properties in a research note on Friday, September 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st.

LTC Properties Stock Performance

Shares of LTC stock opened at $35.08 on Friday. The firm’s 50 day moving average is $37.46 and its 200 day moving average is $36.33. The stock has a market capitalization of $1.59 billion, a P/E ratio of 15.06 and a beta of 0.91. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $39.89. 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 posted its earnings results 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). The company had revenue of $55.78 million for the quarter, compared to analysts’ expectations of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. On average, sell-side analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a $0.19 dividend. The ex-dividend date is Monday, December 23rd. This represents a $2.28 annualized dividend and a yield of 6.50%. LTC Properties’s dividend payout ratio is currently 97.85%.

LTC Properties Company 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.