CacheTech Inc. Decreases Stake in LTC Properties, Inc. (NYSE:LTC)

CacheTech Inc. cut its holdings in shares of LTC Properties, Inc. (NYSE:LTC) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,715 shares of the real estate investment trust’s stock after selling 1,656 shares during the period. CacheTech Inc.’s holdings in LTC Properties were worth $540,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in LTC Properties by 91.4% during the second quarter. GAMMA Investing LLC now owns 1,439 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 687 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in LTC Properties by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,687 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 437 shares during the period. Community Trust & Investment Co. bought a new stake in LTC Properties during the third quarter valued at approximately $202,000. Walleye Trading LLC purchased a new stake in LTC Properties during the first quarter valued at approximately $209,000. Finally, Van ECK Associates Corp raised its position in LTC Properties by 11.7% in the second quarter. Van ECK Associates Corp now owns 6,571 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 689 shares during the period. 69.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other LTC Properties news, Director Timothy Triche sold 5,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $36.45, for a total value of $182,250.00. Following the sale, the director now owns 34,522 shares in the company, valued at $1,258,326.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

LTC Properties Stock Performance

LTC opened at $37.30 on Friday. The firm has a market cap of $1.69 billion, a P/E ratio of 16.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 11.60 and a quick ratio of 11.29. The company has a 50 day simple moving average of $36.51 and a two-hundred day simple moving average of $35.23. LTC Properties, Inc. has a 1-year low of $30.30 and a 1-year high of $39.64.

LTC Properties (NYSE:LTC) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $55.78 million during the quarter, compared to the consensus estimate of $35.45 million. LTC Properties had a return on equity of 10.49% and a net margin of 48.77%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. Equities analysts forecast that LTC Properties, Inc. will post 2.74 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.11%. LTC Properties’s dividend payout ratio is 97.85%.

Analyst Upgrades and Downgrades

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

LTC Properties Profile

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.