LTC Properties, Inc. (NYSE:LTC) Short Interest Up 5.1% in August

LTC Properties, Inc. (NYSE:LTC) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,450,000 shares, an increase of 5.1% from the July 31st total of 1,380,000 shares. Based on an average trading volume of 287,500 shares, the days-to-cover ratio is presently 5.0 days.

LTC Properties Stock Performance

NYSE:LTC opened at $36.73 on Tuesday. The company has a current ratio of 11.29, a quick ratio of 11.29 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.13 and a beta of 0.89. The firm’s fifty day simple moving average is $35.78 and its 200 day simple moving average is $33.91. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.22). LTC Properties had a return on equity of 10.22% and a net margin of 46.78%. The firm had revenue of $50.12 million for the quarter, compared to analysts’ expectations of $33.47 million. During the same period last year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that LTC Properties will post 2.69 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, September 20th. LTC Properties’s payout ratio is currently 118.75%.

Insider Buying and Selling

In related news, Director David L. Gruber purchased 6,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $35.75 per share, for a total transaction of $214,500.00. Following the acquisition, the director now directly owns 18,412 shares in the company, valued at $658,229. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On LTC Properties

Several hedge funds and other institutional investors have recently modified their holdings of LTC. GAMMA Investing LLC bought a new stake in shares of LTC Properties in the 4th quarter worth about $28,000. Quadrant Capital Group LLC boosted its holdings in shares of LTC Properties by 78.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 529 shares during the period. Principal Securities Inc. acquired a new position in shares of LTC Properties in the 4th quarter valued at about $58,000. Van ECK Associates Corp boosted its holdings in shares of LTC Properties by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 5,748 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 945 shares during the period. Finally, New York Life Investment Management LLC acquired a new position in shares of LTC Properties in the 4th quarter valued at about $201,000. Institutional investors own 69.25% 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.