Jupiter Asset Management Ltd. Acquires New Stake 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. bought a new position in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 263,986 shares of the real estate investment trust's stock, valued at approximately $9,358,000. Jupiter Asset Management Ltd. owned approximately 0.58% of LTC Properties as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Investment Advisors Inc. lifted its holdings in shares of LTC Properties by 7.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,678 shares of the real estate investment trust's stock valued at $162,000 after purchasing an additional 327 shares in the last quarter. Keudell Morrison Wealth Management raised its position in LTC Properties by 0.9% in the 1st quarter. Keudell Morrison Wealth Management now owns 36,693 shares of the real estate investment trust's stock valued at $1,301,000 after buying an additional 328 shares during the last quarter. Arizona State Retirement System lifted its stake in LTC Properties by 2.9% during the 1st quarter. Arizona State Retirement System now owns 12,982 shares of the real estate investment trust's stock valued at $460,000 after acquiring an additional 360 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in LTC Properties by 4.1% during the 4th quarter. BNP Paribas Financial Markets now owns 9,906 shares of the real estate investment trust's stock worth $342,000 after acquiring an additional 392 shares during the last quarter. Finally, Denali Advisors LLC grew its stake in shares of LTC Properties by 1.6% in the 1st quarter. Denali Advisors LLC now owns 32,622 shares of the real estate investment trust's stock worth $1,156,000 after acquiring an additional 522 shares in the last quarter. 69.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LTC. Wedbush raised shares of LTC Properties to a "strong-buy" rating in a research report on Wednesday, July 2nd. JMP Securities boosted their target price on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $36.00 price target on shares of LTC Properties in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $38.75.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano purchased 6,000 shares of the stock in a transaction dated Friday, June 27th. The shares were bought at an average price of $34.71 per share, with a total value of $208,260.00. Following the completion of the transaction, the executive vice president directly owned 15,626 shares in the company, valued at approximately $542,378.46. This trade represents a 62.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

LTC Properties Stock Performance

LTC traded up $0.29 during midday trading on Thursday, reaching $35.44. The company had a trading volume of 168,637 shares, compared to its average volume of 348,094. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89. The business has a 50-day moving average price of $35.06 and a two-hundred day moving average price of $35.03. The stock has a market cap of $1.63 billion, a PE ratio of 19.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 10.55 and a current ratio of 9.06.

LTC Properties (NYSE:LTC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $30.18 million for the quarter, compared to the consensus estimate of $49.97 million. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%. LTC Properties's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that LTC Properties, Inc. will post 2.79 earnings per share for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Thursday, July 31st. Shareholders 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 yield of 647.0%. LTC Properties's dividend payout ratio is 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.