LTC Properties, Inc. (NYSE:LTC) Stake Reduced by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management reduced its stake in shares of LTC Properties, Inc. (NYSE:LTC) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,847 shares of the real estate investment trust’s stock after selling 383 shares during the quarter. Keudell Morrison Wealth Management owned about 0.08% of LTC Properties worth $1,389,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LTC. Strategic Financial Concepts LLC boosted its position in LTC Properties by 3,401.1% during the 2nd quarter. Strategic Financial Concepts LLC now owns 673,369 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 654,136 shares during the period. Vanguard Group Inc. raised its position in shares of LTC Properties by 1.4% during the first quarter. Vanguard Group Inc. now owns 6,695,390 shares of the real estate investment trust’s stock worth $217,667,000 after purchasing an additional 91,963 shares during the period. abrdn plc raised its position in shares of LTC Properties by 25.7% during the third quarter. abrdn plc now owns 238,793 shares of the real estate investment trust’s stock worth $8,761,000 after purchasing an additional 48,869 shares during the period. Dimensional Fund Advisors LP raised its position in shares of LTC Properties by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 613,935 shares of the real estate investment trust’s stock worth $21,180,000 after purchasing an additional 31,980 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of LTC Properties by 180.4% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock worth $1,623,000 after purchasing an additional 30,258 shares during the period. 69.25% of the stock is currently owned by institutional investors.

LTC Properties Stock Up 0.9 %

Shares of LTC traded up $0.33 during trading hours on Thursday, hitting $38.26. 15,697 shares of the company were exchanged, compared to its average volume of 281,189. The company has a market cap of $1.73 billion, a PE ratio of 16.28 and a beta of 0.90. The firm’s 50 day moving average is $36.62 and its 200-day moving average is $35.42. LTC Properties, Inc. has a 52 week low of $30.30 and a 52 week high of $39.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 11.60 and a current ratio of 11.60.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The company had revenue of $55.78 million for the quarter, compared to the consensus estimate of $35.45 million. During the same quarter last year, the company posted $0.65 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 annualized dividend and a yield of 5.96%. LTC Properties’s payout ratio is 97.85%.

Insider Activity at LTC Properties

In related news, Director Timothy Triche sold 5,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $36.45, for a total transaction of $182,250.00. Following the completion of the sale, the director now owns 34,522 shares in the company, valued at $1,258,326.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LTC has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $37.00 target price (up from $36.00) on shares of LTC Properties in a research report on Tuesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of LTC Properties in a research report on Friday, September 20th.

About LTC Properties

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 201 properties in 26 states with 29 operating partners.