Jupiter Asset Management Ltd. Purchases New Shares in LTC Properties, Inc. (NYSE:LTC)

Key Points

• Jupiter Asset Management Ltd. acquired a new stake in LTC Properties by purchasing 263,986 shares valued at approximately $9.36 million, representing 0.58% ownership at the end of the reporting period.
• LTC Properties reported a quarterly earnings loss, with EPS of $0.65, missing the consensus estimate of $0.66, while revenue increased to $49.03 million but decreased by 4.5% year-over-year.
• The firm declared a dividend of $0.19 per share with a high payout ratio of 117.53%, reflecting the company's focus on returning value to shareholders.

Jupiter Asset Management Ltd. purchased a new stake in LTC Properties, Inc. (NYSE:LTC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 263,986 shares of the real estate investment trust's stock, valued at approximately $9,358,000. Jupiter Asset Management Ltd. owned 0.58% of LTC Properties at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LTC. GF Fund Management CO. LTD. bought a new stake in LTC Properties in the 4th quarter valued at $27,000. KBC Group NV bought a new stake in LTC Properties in the 1st quarter valued at $33,000. Rossby Financial LCC bought a new stake in shares of LTC Properties during the 1st quarter valued at $58,000. Elite Financial Inc. bought a new stake in shares of LTC Properties during the 1st quarter valued at $69,000. Finally, State of Wyoming lifted its position in shares of LTC Properties by 91.7% during the 4th quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 1,396 shares during the period. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Stock Performance

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

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). LTC Properties had a return on equity of 8.48% and a net margin of 42.16%. The business had revenue of $49.03 million for the quarter, compared to analyst estimates of $44.43 million. During the same period last year, the firm posted $0.69 EPS. LTC Properties's quarterly revenue was down 4.5% on a year-over-year basis. As a group, equities analysts anticipate that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a dividend yield of 647.0%. LTC Properties's payout ratio is 117.53%.

Insider Activity at LTC Properties

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the stock in a transaction dated Friday, June 27th. The stock was bought at an average price of $34.71 per share, with a total value of $208,260.00. Following the acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at approximately $542,378.46. This represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

LTC has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and set a $36.00 target price 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 given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, LTC Properties presently has an average rating of "Buy" and an average target price of $38.00.

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.

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