Mirae Asset Global Investments Co. Ltd. Raises Position in LTC Properties, Inc. (NYSE:LTC)

Mirae Asset Global Investments Co. Ltd. grew its position in LTC Properties, Inc. (NYSE:LTC) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 284,952 shares of the real estate investment trust’s stock after acquiring an additional 12,056 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LTC Properties were worth $9,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Money Concepts Capital Corp boosted its holdings in shares of LTC Properties by 3,395.0% in the fourth quarter. Money Concepts Capital Corp now owns 699 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 679 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in LTC Properties during the fourth quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new stake in LTC Properties during the second quarter worth about $41,000. FMR LLC boosted its holdings in LTC Properties by 73.3% during the third 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 in the last quarter. Finally, Private Trust Co. NA boosted its holdings in LTC Properties by 69.2% during the fourth quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Performance

Shares of LTC opened at $31.62 on Friday. The company has a current ratio of 13.29, a quick ratio of 13.29 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.36 billion, a P/E ratio of 14.64 and a beta of 0.87. The company has a 50-day moving average of $31.81 and a two-hundred day moving average of $32.08. LTC Properties, Inc. has a 12-month low of $30.30 and a 12-month high of $35.72.

LTC Properties Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date is Thursday, June 20th. LTC Properties’s payout ratio is currently 105.56%.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $34.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.13.

Insiders Place Their Bets

In other LTC Properties news, Director Timothy Triche sold 3,082 shares of LTC Properties 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 completion of the transaction, the director now owns 36,343 shares in the company, valued at $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

About LTC Properties

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.