LTC Properties, Inc. (NYSE:LTC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,309 shares of the real estate investment trust’s stock after acquiring an additional 8,646 shares during the quarter. Principal Financial Group Inc. owned about 0.56% of LTC Properties worth $9,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP lifted its holdings in shares of LTC Properties by 37.3% in the 4th quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust’s stock valued at $19,082,000 after buying an additional 150,023 shares during the period. Norges Bank purchased a new position in LTC Properties in the fourth quarter worth $5,000,000. Northern Trust Corp lifted its holdings in LTC Properties by 20.9% in the fourth quarter. Northern Trust Corp now owns 599,573 shares of the real estate investment trust’s stock valued at $20,715,000 after acquiring an additional 103,482 shares during the period. Renaissance Technologies LLC lifted its holdings in LTC Properties by 69.3% in the fourth quarter. Renaissance Technologies LLC now owns 207,700 shares of the real estate investment trust’s stock valued at $7,176,000 after acquiring an additional 85,000 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in LTC Properties by 3,445.0% in the first quarter. GAMMA Investing LLC now owns 86,604 shares of the real estate investment trust’s stock valued at $3,070,000 after acquiring an additional 84,161 shares during the period. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $36.00 price target on shares of LTC Properties in a research report on Monday, May 19th. Wedbush upgraded LTC Properties to a “strong-buy” rating in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, LTC Properties currently has an average rating of “Buy” and an average price target of $38.00.

Insider Buying and Selling at LTC Properties

In other news, EVP David M. Boitano purchased 6,000 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was bought at an average cost of $34.71 per share, with a total value of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares of the company’s stock, valued at approximately $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.

LTC Properties Stock Performance

LTC stock opened at $35.66 on Tuesday. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.64 billion, a P/E ratio of 18.38 and a beta of 0.65. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The stock’s 50 day simple moving average is $35.26 and its 200 day simple moving average is $34.95.

LTC Properties (NYSE:LTC) last announced its earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). LTC Properties had a net margin of 42.16% and a return on equity of 8.48%. The firm had revenue of $49.03 million for the quarter, compared to the consensus estimate of $44.43 million. During the same period in the prior year, the business earned $0.69 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, equities research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Monday, September 22nd. LTC Properties’s dividend payout ratio (DPR) is presently 117.53%.

LTC Properties Company Profile

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.