Several large investors have changed their stakes in LTC Properties. Cetera Advisors LLC invested around $276,000, while Strategic Financial Concepts LLC increased its holdings by 3,401.1%, owning 673,369 shares worth $232,000 after adding 654,136 shares. MQS Management LLC also invested about $550,000. SG Americas Securities LLC boosted its investment by 83%, acquiring an additional 10,377 shares to reach a total of 22,874 shares, valued at $839,000. Millennium Management LLC increased its stake by 33.7%, now holding 111,188 shares worth $3.84 million. Institutional investors own 69.25% of the company.
Insider Activity
Director David L. Gruber bought 6,000 shares for $35.75 each on August 2, totaling $214,500. He now owns 18,412 shares valued at around $658,229. Director Timothy Triche sold 5,000 shares for an average price of $36.45 on August 30, totaling $182,250, and now holds 34,522 shares valued at $1.26 million. Insiders own 2.00% of the stock.
Stock Performance
LTC stock opened at $36.26. Over the past year, it reached a low of $30.30 and a high of $38.28, with a market cap of $1.58 billion. The latest quarterly earnings report showed $0.44 earnings per share, missing expectations. Revenue was $50.12 million, up 3.9% from the previous year, and analysts predict earnings of 2.69 per share for the year.
Dividend Announcement
LTC Properties announced a monthly dividend of $0.19 to be paid on November 29, with an annualized yield of 6.29%. The dividend payout ratio is 118.75%.
Analyst Ratings
Analysts have updated price targets for LTC. Wells Fargo set a target of $37.00, while Wedbush targets $40.00.
LTC Properties Overview
LTC is a REIT focused on seniors housing and healthcare properties. It holds 201 properties across 26 states with various operating partners.
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