MQS Management LLC Takes $807,000 Position in LTC Properties, Inc. $LTC

MQS Management LLC acquired a new position in LTC Properties, Inc. (NYSE:LTC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 21,897 shares of the real estate investment trust’s stock, valued at approximately $807,000. LTC Properties accounts for approximately 0.5% of MQS Management LLC’s investment portfolio, making the stock its 29th largest position.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its holdings in LTC Properties by 75.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of LTC Properties by 55.7% in the third quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 352 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of LTC Properties in the second quarter valued at approximately $41,000. Hantz Financial Services Inc. grew its stake in shares of LTC Properties by 701.3% in the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,101 shares during the last quarter. Finally, IFP Advisors Inc increased its position in LTC Properties by 21.2% during the second quarter. IFP Advisors Inc now owns 1,691 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Trading Up 2.0%

Shares of LTC stock opened at $38.04 on Wednesday. The firm has a fifty day moving average of $35.58 and a 200-day moving average of $35.66. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 52.83 and a beta of 0.62. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $38.35. The company has a debt-to-equity ratio of 0.90, a quick ratio of 8.68 and a current ratio of 8.68.

LTC Properties Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $0.19 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Monday, March 23rd. LTC Properties’s dividend payout ratio is 316.67%.

Analysts Set New Price Targets

Several research firms recently commented on LTC. Royal Bank Of Canada upped their target price on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. JMP Securities reiterated a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research note on Friday, October 17th. Cantor Fitzgerald set a $36.00 target price on LTC Properties in a research report on Monday, January 5th. Finally, Wells Fargo & Company boosted their price target on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, LTC Properties has an average rating of “Hold” and a consensus target price of $38.60.

Insider Buying and Selling

In other LTC Properties news, EVP David M. Boitano purchased 10,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the completion of the purchase, the executive vice president directly owned 25,626 shares in the company, valued at approximately $882,559.44. This trade represents a 64.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

LTC Properties Profile

LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.

Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.