LTC Properties, Inc. (NYSE:LTC) EVP David M. Boitano Purchases 6,000 Shares

LTC Properties, Inc. (NYSE:LTC - Get Free Report) EVP David M. Boitano bought 6,000 shares of the firm's stock in a transaction on Friday, June 27th. The shares were purchased at an average cost of $34.71 per share, with a total value of $208,260.00. Following the completion of the transaction, the executive vice president owned 15,626 shares in the company, valued at $542,378.46. This represents a 62.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

LTC Properties Stock Up 1.4%

Shares of LTC Properties stock traded up $0.48 on Wednesday, reaching $35.16. The stock had a trading volume of 344,459 shares, compared to its average volume of 316,439. The company has a quick ratio of 10.55, a current ratio of 10.55 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.61 billion, a P/E ratio of 18.12 and a beta of 0.65. The company has a 50 day moving average price of $35.31 and a 200 day moving average price of $34.95. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $39.89.

LTC Properties (NYSE:LTC - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.65 earnings per share (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 in the previous year, the company posted $0.69 earnings per share. The business's revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend is Monday, September 22nd. LTC Properties's dividend payout ratio (DPR) is presently 117.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LTC. Wells Fargo & Company dropped their price objective on shares of LTC Properties from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, March 10th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $36.00 target price on shares of LTC Properties in a research report on Monday, May 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Institutional Investors Weigh In On LTC Properties

Several institutional investors have recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. purchased a new position in shares of LTC Properties in the 1st quarter valued at approximately $9,358,000. Marshall Wace LLP raised its holdings in shares of LTC Properties by 37.3% in the fourth quarter. Marshall Wace LLP now owns 552,308 shares of the real estate investment trust's stock worth $19,082,000 after buying an additional 150,023 shares during the last quarter. Norges Bank acquired a new stake in shares of LTC Properties during the fourth quarter worth $5,000,000. Charles Schwab Investment Management Inc. grew its holdings in shares of LTC Properties by 15.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust's stock valued at $33,653,000 after buying an additional 126,598 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of LTC Properties in the 1st quarter valued at $4,487,000. Institutional investors and hedge funds own 69.25% of the company's stock.

About LTC Properties

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.