Victory Capital Management Inc. Has $365,000 Position in LTC Properties, Inc. (NYSE:LTC)

Victory Capital Management Inc. lifted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 32.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,361 shares of the real estate investment trust’s stock after acquiring an additional 2,814 shares during the period. Victory Capital Management Inc.’s holdings in LTC Properties were worth $365,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in LTC Properties by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 5,748 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 945 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of LTC Properties in the 4th quarter worth $28,000. abrdn plc grew its stake in shares of LTC Properties by 2,190.3% in the 4th quarter. abrdn plc now owns 189,978 shares of the real estate investment trust’s stock worth $6,102,000 after acquiring an additional 181,683 shares in the last quarter. GraniteShares Advisors LLC grew its stake in shares of LTC Properties by 14.5% in the 4th quarter. GraniteShares Advisors LLC now owns 45,348 shares of the real estate investment trust’s stock worth $1,457,000 after acquiring an additional 5,728 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of LTC Properties in the 4th quarter worth $665,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

Insider Buying and Selling at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 3,082 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $97,606.94. Following the sale, the director now directly owns 36,343 shares of the company’s stock, valued at $1,150,982.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 target price for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, LTC Properties has a consensus rating of “Hold” and a consensus price target of $33.40.

LTC Properties Price Performance

NYSE LTC opened at $34.33 on Friday. The company has a market cap of $1.49 billion, a PE ratio of 17.88 and a beta of 0.86. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $35.72. The company has a quick ratio of 15.86, a current ratio of 15.86 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $32.87 and its two-hundred day simple moving average is $32.40.

LTC Properties Dividend Announcement

The firm 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 annualized dividend and a yield of 6.64%. The ex-dividend date is Thursday, June 20th. LTC Properties’s dividend payout ratio (DPR) is presently 118.75%.

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.