Illinois Municipal Retirement Fund Sells 583 Shares of LTC Properties, Inc. (NYSE:LTC)

Illinois Municipal Retirement Fund reduced its holdings in LTC Properties, Inc. (NYSE:LTC) by 2.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,256 shares of the real estate investment trust’s stock after selling 583 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in LTC Properties were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in LTC Properties by 69.2% in the 4th quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 512 shares during the last quarter. Quantbot Technologies LP bought a new position in LTC Properties in the 3rd quarter worth about $51,000. Versor Investments LP bought a new position in LTC Properties in the 3rd quarter worth about $260,000. abrdn plc increased its stake in LTC Properties by 4.7% in the 3rd quarter. abrdn plc now owns 8,295 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 369 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in LTC Properties by 4.0% in the 3rd quarter. Sigma Planning Corp now owns 8,470 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 327 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Price Performance

Shares of LTC Properties stock opened at $32.49 on Tuesday. 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 firm has a market capitalization of $1.41 billion, a PE ratio of 15.04 and a beta of 0.87. The business’s 50-day moving average price is $32.04 and its 200-day moving average price is $32.10. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $35.72.

LTC Properties Dividend Announcement

The company also recently disclosed 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 7.02%. LTC Properties’s dividend payout ratio (DPR) is presently 105.56%.

Insider Buying and Selling

In related news, Director Timothy Triche sold 3,082 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $31.67, for a total transaction of $97,606.94. Following the transaction, the director now directly owns 36,343 shares in the company, valued at approximately $1,150,982.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.