Assetmark Inc. Increases Holdings in LTC Properties, Inc. (NYSE:LTC)

Assetmark Inc. grew its holdings in LTC Properties, Inc. (NYSE:LTC) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,944 shares of the real estate investment trust’s stock after purchasing an additional 735 shares during the period. Assetmark Inc.’s holdings in LTC Properties were worth $494,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of LTC Properties in the 4th quarter worth $464,000. American Century Companies Inc. grew its holdings in shares of LTC Properties by 3.4% in the fourth quarter. American Century Companies Inc. now owns 16,821 shares of the real estate investment trust’s stock valued at $581,000 after purchasing an additional 550 shares in the last quarter. LPL Financial LLC grew its position in LTC Properties by 4.4% in the fourth quarter. LPL Financial LLC now owns 46,361 shares of the real estate investment trust’s stock worth $1,602,000 after acquiring an additional 1,958 shares in the last quarter. Vanguard Group Inc. boosted its stake in LTC Properties by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,960,934 shares of the real estate investment trust’s stock worth $240,500,000 after buying an additional 39,470 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in LTC Properties by 32.7% in the fourth quarter. JPMorgan Chase & Co. now owns 336,734 shares of the real estate investment trust’s stock worth $11,634,000 after purchasing an additional 82,927 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Trading Up 0.7%

Shares of NYSE:LTC opened at $34.27 on Friday. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $39.89. The business has a 50-day moving average price of $35.08 and a 200-day moving average price of $35.03. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 17.66 and a beta of 0.66.

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

LTC Properties Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 24th were issued a dividend of $0.19 per share. This represents a dividend yield of 647.0%. The ex-dividend date was Wednesday, July 23rd. LTC Properties’s payout ratio is currently 117.53%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LTC. Wedbush raised shares of LTC Properties to a “strong-buy” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $36.00 price objective on shares of LTC Properties in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $38.00.

Insider Buying and Selling at LTC Properties

In related news, EVP David M. Boitano bought 6,000 shares of the business’s stock in a transaction on Friday, June 27th. The stock was acquired 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 $542,378.46. The trade was a 62.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by corporate insiders.

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.