LTC Properties, Inc. $LTC Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in LTC Properties, Inc. (NYSE:LTC - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 582,045 shares of the real estate investment trust's stock after selling 64,547 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.27% of LTC Properties worth $20,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LTC. GF Fund Management CO. LTD. acquired a new position in shares of LTC Properties during the 4th quarter valued at $27,000. KBC Group NV acquired a new position in shares of LTC Properties during the 1st quarter valued at $33,000. Rossby Financial LCC acquired a new position in shares of LTC Properties during the 1st quarter valued at $58,000. Elite Financial Inc. acquired a new position in shares of LTC Properties during the 1st quarter valued at $69,000. Finally, State of Wyoming lifted its holdings 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 in the last quarter. Institutional investors and hedge funds own 69.25% of the company's stock.

LTC Properties Stock Down 0.7%

Shares of LTC traded down $0.27 during midday trading on Friday, hitting $36.26. The company had a trading volume of 257,480 shares, compared to its average volume of 294,223. The company's 50 day moving average price is $35.65 and its 200 day moving average price is $35.36. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 19.92 and a beta of 0.69. LTC Properties, Inc. has a 52 week low of $31.70 and a 52 week high of $39.89. The company has a quick ratio of 9.06, a current ratio of 9.06 and a debt-to-equity ratio of 0.67.

LTC Properties (NYSE:LTC - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $30.18 million during the quarter, compared to the consensus estimate of $49.97 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. LTC Properties has set its FY 2025 guidance at 2.670-2.71 EPS. On average, equities research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Investors of record on Thursday, August 21st were given a dividend of $0.19 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Thursday, August 21st. LTC Properties's dividend payout ratio is currently 125.27%.

Insider Buying and Selling at LTC Properties

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

Analysts Set New Price Targets

Several research firms recently weighed in on LTC. Royal Bank Of Canada lifted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Wells Fargo & Company lifted their target price on shares of LTC Properties from $36.00 to $37.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Wedbush upgraded shares of LTC Properties to a "strong-buy" rating in a report on Wednesday, July 2nd. Finally, JMP Securities boosted their price objective on shares of LTC Properties from $40.00 to $43.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $39.25.

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.