LTC Properties, Inc. (NYSE:LTC) Director Sells $97,606.94 in Stock

LTC Properties, Inc. (NYSE:LTC) Director Timothy Triche sold 3,082 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the sale, the director now owns 36,343 shares of the company’s stock, valued at $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

LTC Properties Stock Performance

Shares of LTC opened at $31.91 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. The stock has a 50 day moving average price of $31.77 and a two-hundred day moving average price of $32.07. The firm has a market capitalization of $1.38 billion, a P/E ratio of 14.77 and a beta of 0.87. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $35.72.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date is Thursday, June 20th. LTC Properties’s dividend payout ratio is currently 105.56%.

Institutional Trading of LTC Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp boosted its stake in shares of LTC Properties by 3,395.0% in the 4th quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 679 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of LTC Properties in the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new position in shares of LTC Properties in the 4th quarter worth approximately $28,000. FMR LLC boosted its stake in shares of LTC Properties by 73.3% in the 3rd quarter. FMR LLC now owns 1,168 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 494 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of LTC Properties by 78.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 529 shares during the last quarter. 69.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft began coverage on LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LTC Properties currently has an average rating of “Hold” and a consensus price target of $34.13.

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.