Charles Schwab Investment Management Inc. Buys 126,598 Shares of LTC Properties, Inc. $LTC

Charles Schwab Investment Management Inc. increased its stake in LTC Properties, Inc. (NYSE:LTC) by 15.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 949,322 shares of the real estate investment trust’s stock after acquiring an additional 126,598 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.07% of LTC Properties worth $33,653,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of LTC Properties by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust’s stock valued at $9,051,000 after acquiring an additional 8,646 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of LTC Properties in the 1st quarter valued at $9,358,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of LTC Properties in the 1st quarter valued at $200,000. Tidal Investments LLC bought a new stake in shares of LTC Properties in the 4th quarter valued at $294,000. Finally, Asset Management One Co. Ltd. increased its stake in shares of LTC Properties by 7.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 124,312 shares of the real estate investment trust’s stock valued at $4,407,000 after acquiring an additional 8,651 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Activity

In other news, EVP David M. Boitano bought 6,000 shares of LTC Properties stock in a transaction dated Friday, June 27th. The stock was purchased at an average price of $34.71 per share, for a total transaction of $208,260.00. Following the purchase, the executive vice president directly owned 15,626 shares in the company, valued at $542,378.46. The trade was a 62.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

LTC Properties Stock Performance

Shares of LTC stock opened at $35.48 on Tuesday. The firm has a market capitalization of $1.63 billion, a PE ratio of 19.49 and a beta of 0.66. The firm has a fifty day simple moving average of $35.15 and a two-hundred day simple moving average of $35.10. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. LTC Properties, Inc. has a 12 month low of $31.70 and a 12 month high of $39.89.

LTC Properties (NYSE:LTC) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The firm had revenue of $30.18 million during the quarter, compared to analyst estimates of $49.97 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be paid a $0.19 dividend. The ex-dividend date is Thursday, August 21st. This represents a dividend yield of 642.0%. LTC Properties’s dividend payout ratio is presently 125.27%.

Analyst Ratings Changes

Several research firms have recently weighed in on LTC. Royal Bank Of Canada lifted their price objective on shares of LTC Properties from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Wedbush upgraded shares of LTC Properties to a “strong-buy” rating in a research note on Wednesday, July 2nd. Finally, JMP Securities boosted their price target on shares of LTC Properties from $40.00 to $43.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Two 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 company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $39.00.

About LTC Properties

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.