LTC Properties, Inc. (NYSE:LTC) Shares Purchased by abrdn plc

abrdn plc increased its position in shares of LTC Properties, Inc. (NYSE:LTC) by 2,190.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 189,978 shares of the real estate investment trust’s stock after acquiring an additional 181,683 shares during the quarter. abrdn plc’s holdings in LTC Properties were worth $6,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in LTC Properties by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 645,018 shares of the real estate investment trust’s stock worth $20,724,000 after purchasing an additional 28,337 shares during the last quarter. Advisors Capital Management LLC increased its position in shares of LTC Properties by 3.8% during the third quarter. Advisors Capital Management LLC now owns 416,764 shares of the real estate investment trust’s stock valued at $13,391,000 after acquiring an additional 15,306 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of LTC Properties by 4.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 284,952 shares of the real estate investment trust’s stock valued at $9,153,000 after acquiring an additional 12,056 shares during the last quarter. Rhumbline Advisers increased its position in shares of LTC Properties by 0.6% during the third quarter. Rhumbline Advisers now owns 137,631 shares of the real estate investment trust’s stock valued at $4,422,000 after acquiring an additional 773 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of LTC Properties by 14.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 130,310 shares of the real estate investment trust’s stock valued at $4,259,000 after acquiring an additional 16,602 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.

LTC Properties Trading Up 1.2 %

Shares of LTC stock opened at $32.56 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 market capitalization of $1.41 billion, a P/E ratio of 15.07 and a beta of 0.87. The company has a 50 day moving average price of $32.02 and a 200 day moving average price of $32.10. LTC Properties, Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $35.72.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors 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 7.00%. The ex-dividend date is Thursday, June 20th. LTC Properties’s dividend payout ratio (DPR) is currently 105.56%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $34.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.86.

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.