LTC Properties, Inc. $LTC Stock Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group sharply increased its LTC Properties stake, adding about 4.34 million shares in the third quarter to hold 4.50 million shares, or roughly 8% of the REIT.
• LTC reported quarterly revenue of $114.1 million, up 66.3% year over year and above estimates of $86.3 million; it also declared a monthly dividend of $0.19 per share, equivalent to a 5.3% annualized yield.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $47.60; shares opened at $43.32.

Aberdeen Group plc boosted its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 2,727.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,496,798 shares of the real estate investment trust's stock after purchasing an additional 4,337,760 shares during the quarter. Aberdeen Group plc owned about 8.00% of LTC Properties worth $192,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its position in shares of LTC Properties by 8.6% in the 2nd quarter. IFP Advisors Inc now owns 3,079 shares of the real estate investment trust's stock valued at $118,000 after purchasing an additional 245 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of LTC Properties by 3.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 8,733 shares of the real estate investment trust's stock valued at $374,000 after purchasing an additional 314 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of LTC Properties by 39.2% in the third quarter. Farther Finance Advisors LLC now owns 1,256 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 354 shares in the last quarter. Nissay Asset Management Corp Japan lifted its holdings in shares of LTC Properties by 5.8% in the second quarter. Nissay Asset Management Corp Japan now owns 7,999 shares of the real estate investment trust's stock valued at $308,000 after purchasing an additional 439 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of LTC Properties by 2.5% in the first quarter. Assetmark Inc. now owns 19,129 shares of the real estate investment trust's stock valued at $711,000 after purchasing an additional 462 shares in the last quarter. Institutional investors own 69.25% of the company's stock.

LTC Properties Stock Down 1.0%

Shares of NYSE:LTC opened at $43.32 on Friday. LTC Properties, Inc. has a 52-week low of $33.64 and a 52-week high of $46.92. The company has a market capitalization of $2.43 billion, a PE ratio of 15.74 and a beta of 0.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 10.37 and a current ratio of 10.37. The company has a fifty day moving average of $43.29 and a 200-day moving average of $39.90.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported $6.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $5.69. LTC Properties had a return on equity of 37.19% and a net margin of 127.38%. The business had revenue of $114.08 million for the quarter, compared to analyst estimates of $86.30 million. During the same quarter in the previous year, the company posted $0.72 EPS. LTC Properties's quarterly revenue was up 66.3% compared to the same quarter last year. On average, equities analysts predict that LTC Properties, Inc. will post 2.77 EPS for the current fiscal year.

LTC Properties Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 23rd will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Wednesday, December 23rd. LTC Properties's payout ratio is 23.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Deutsche Bank raised shares of LTC Properties from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Thursday, August 27th. Weiss Ratings raised shares of LTC Properties from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday. Royal Bank Of Canada increased their price target on shares of LTC Properties from $52.00 to $53.00 and gave the company an "outperform" rating in a research note on Tuesday. Wells Fargo & Company lifted their price objective on shares of LTC Properties from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Monday, October 19th. Finally, Nomura raised shares of LTC Properties to a "neutral" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.60.

LTC Properties Profile

LTC Properties, Inc. is a real estate investment trust focused on properties serving the senior housing and health care sectors. Its investments include assisted living, memory care, independent living and skilled nursing facilities. The company provides capital to property owners and operators through real estate investments, including property leases, mortgage loans and joint ventures. LTC generally partners with third-party operators that provide care and manage the facilities. Founded in 1992 and headquartered in Westlake Village, California, LTC invests in properties across the United States.

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