LTC Properties, Inc. (NYSE:LTC) Position Boosted by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC significantly increased its stake in LTC Properties by 114.3%, acquiring a total of 55,662 shares valued at approximately $1.97 million.
• LTC Properties reported an earnings per share of $0.68 for the last quarter, exceeding analysts' expectations of $0.67, with a revenue of $30.18 million.
• The company announced a dividend of $0.19 per share, with a high dividend yield of 647.0% and a dividend payout ratio of 117.53%.

New Age Alpha Advisors LLC boosted its stake in shares of LTC Properties, Inc. (NYSE:LTC - Free Report) by 114.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,662 shares of the real estate investment trust's stock after acquiring an additional 29,691 shares during the quarter. New Age Alpha Advisors LLC owned about 0.12% of LTC Properties worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in shares of LTC Properties in the 4th quarter valued at approximately $27,000. KBC Group NV acquired a new position in LTC Properties during the first quarter worth $33,000. Rossby Financial LCC acquired a new position in LTC Properties during the first quarter worth $58,000. Elite Financial Inc. acquired a new position in LTC Properties during the first quarter worth $69,000. Finally, State of Wyoming increased its position in LTC Properties by 91.7% during the fourth quarter. State of Wyoming now owns 2,919 shares of the real estate investment trust's stock worth $101,000 after buying an additional 1,396 shares in the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on LTC. JMP Securities raised their price target on LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Wedbush upgraded LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada lifted their target price on LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday. Two research analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $39.00.

Insider Activity at LTC Properties

In related news, EVP David M. Boitano bought 6,000 shares of the stock in a transaction dated Friday, June 27th. The stock was bought at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the acquisition, the executive vice president owned 15,626 shares of the company's stock, valued at $542,378.46. This trade represents a 62.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

LTC Properties Stock Down 0.2%

Shares of NYSE:LTC traded down $0.07 during trading on Monday, hitting $35.77. The company's stock had a trading volume of 56,910 shares, compared to its average volume of 347,055. The company has a debt-to-equity ratio of 0.67, a quick ratio of 9.06 and a current ratio of 9.06. LTC Properties, Inc. has a fifty-two week low of $31.70 and a fifty-two week high of $39.89. The stock's 50-day moving average price is $35.06 and its two-hundred day moving average price is $35.05. The company has a market capitalization of $1.65 billion, a PE ratio of 19.65 and a beta of 0.66.

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

LTC Properties Announces Dividend

The business also recently announced 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 dividend payout ratio is 125.27%.

LTC Properties 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.