Louisiana State Employees Retirement System Acquires New Position in LTC Properties, Inc. (NYSE:LTC)

Louisiana State Employees Retirement System acquired a new stake in LTC Properties, Inc. (NYSE:LTC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 20,700 shares of the real estate investment trust’s stock, valued at approximately $665,000.

A number of other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of LTC Properties by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 645,018 shares of the real estate investment trust’s stock valued at $20,724,000 after purchasing an additional 28,337 shares during the period. Advisors Capital Management LLC grew its holdings in shares of LTC Properties by 3.8% in 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 purchasing an additional 15,306 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of LTC Properties by 4.4% in 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 purchasing an additional 12,056 shares during the period. Rhumbline Advisers grew its holdings in shares of LTC Properties by 0.6% in the third quarter. Rhumbline Advisers now owns 137,631 shares of the real estate investment trust’s stock valued at $4,422,000 after purchasing an additional 773 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in shares of LTC Properties by 14.6% in 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 purchasing an additional 16,602 shares during the period. Hedge funds and other institutional investors own 69.25% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of LTC Properties in a research note on Tuesday, January 30th. They set a “hold” rating and a $34.00 target price for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.50.

Insider Transactions at LTC Properties

In other news, Director Timothy Triche sold 3,082 shares of the 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 owns 36,343 shares of the company’s stock, valued at $1,150,982.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

LTC Properties Trading Up 1.2 %

Shares of LTC stock opened at $32.56 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.29 and a quick ratio of 13.29. The firm has a market cap of $1.41 billion, a PE ratio of 15.07 and a beta of 0.87. The company has a 50-day moving average of $32.02 and a two-hundred day moving average of $32.10. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $35.72.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.28 annualized dividend and a dividend yield of 7.00%. LTC Properties’s dividend payout ratio is presently 105.56%.

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.