New York State Teachers Retirement System Buys 3,472 Shares of LTC Properties, Inc. (NYSE:LTC)

New York State Teachers Retirement System lifted its stake in LTC Properties, Inc. (NYSE:LTC) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,651 shares of the real estate investment trust’s stock after purchasing an additional 3,472 shares during the period. New York State Teachers Retirement System’s holdings in LTC Properties were worth $2,591,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LTC. American Century Companies Inc. grew its holdings in shares of LTC Properties by 10.5% in the first quarter. American Century Companies Inc. now owns 12,341 shares of the real estate investment trust’s stock worth $475,000 after purchasing an additional 1,174 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in LTC Properties during the 1st quarter worth about $247,000. PNC Financial Services Group Inc. grew its holdings in LTC Properties by 32.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,152 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 1,016 shares in the last quarter. MetLife Investment Management LLC grew its holdings in LTC Properties by 35.7% during the 1st quarter. MetLife Investment Management LLC now owns 20,498 shares of the real estate investment trust’s stock worth $789,000 after acquiring an additional 5,390 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in LTC Properties by 2.7% during the 1st quarter. Rhumbline Advisers now owns 121,285 shares of the real estate investment trust’s stock worth $4,666,000 after acquiring an additional 3,154 shares in the last quarter. 69.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft started coverage on shares of LTC Properties in a report on Tuesday, January 30th. They set a “hold” rating and a $34.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.13.

LTC Properties Stock Down 0.2 %

NYSE:LTC opened at $31.57 on Tuesday. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $35.72. The stock has a market capitalization of $1.36 billion, a P/E ratio of 14.62 and a beta of 0.87. 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 company’s 50-day simple moving average is $31.83 and its 200-day simple moving average is $32.09.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be issued a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend is Thursday, June 20th. LTC Properties’s dividend payout ratio is currently 105.56%.

Insider Activity

In other news, 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 sale, the director now directly owns 36,343 shares in the company, valued at approximately $1,150,982.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

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.