Two Sigma Advisers LP lifted its position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 33.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,100 shares of the real estate investment trust's stock after purchasing an additional 77,900 shares during the period. Two Sigma Advisers LP owned about 0.69% of LTC Properties worth $11,488,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in LTC Properties by 25.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,805 shares of the real estate investment trust's stock worth $66,000 after buying an additional 366 shares during the period. Amalgamated Bank grew its stake in shares of LTC Properties by 2.9% during the second quarter. Amalgamated Bank now owns 13,068 shares of the real estate investment trust's stock valued at $451,000 after acquiring an additional 372 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of LTC Properties by 0.5% in the third quarter. New York State Teachers Retirement System now owns 76,354 shares of the real estate investment trust's stock worth $2,801,000 after acquiring an additional 375 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of LTC Properties by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in LTC Properties by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust's stock valued at $420,000 after purchasing an additional 447 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE LTC opened at $37.42 on Tuesday. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75. The stock's 50 day moving average price is $37.38 and its two-hundred day moving average price is $36.22. LTC Properties, Inc. has a 52-week low of $30.30 and a 52-week high of $39.89. The stock has a market capitalization of $1.69 billion, a P/E ratio of 16.06 and a beta of 0.91.
LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly 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). LTC Properties had a net margin of 48.77% and a return on equity of 10.49%. The firm had revenue of $55.78 million for the quarter, compared to analyst estimates of $35.45 million. During the same period in the prior year, the company posted $0.65 earnings per share. The business's revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.09%. LTC Properties's payout ratio is currently 97.85%.
A number of equities analysts have issued reports on LTC shares. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price target on shares of LTC Properties in a report on Friday, September 20th.
Read Our Latest Report on LTC Properties
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 shares were sold at an average price of $38.75, for a total value of $232,500.00. Following the transaction, the insider now owns 158,585 shares of the company's stock, valued at $6,145,168.75. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.00% of the company's stock.
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.
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