Strategic Financial Concepts LLC Invests $625,000 in LTC Properties, Inc. (NYSE:LTC)

Strategic Financial Concepts LLC acquired a new stake in LTC Properties, Inc. (NYSE:LTC) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,233 shares of the real estate investment trust’s stock, valued at approximately $625,000.

Several other hedge funds have also recently added to or reduced their stakes in LTC. Exchange Traded Concepts LLC increased its holdings in shares of LTC Properties by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 40,058 shares of the real estate investment trust’s stock worth $1,287,000 after acquiring an additional 317 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of LTC Properties by 4.0% during the third quarter. Sigma Planning Corp now owns 8,470 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 327 shares during the period. abrdn plc raised its holdings in shares of LTC Properties by 4.7% during the third quarter. abrdn plc now owns 8,295 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 369 shares during the period. Private Trust Co. NA lifted its position in LTC Properties by 69.2% in the 4th quarter. Private Trust Co. NA now owns 1,252 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 512 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in LTC Properties by 78.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,206 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft began coverage on LTC Properties in a research note on Tuesday, January 30th. They issued a “hold” rating and a $34.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.50.

Insider Buying and Selling

In other news, Director Timothy Triche sold 3,082 shares of LTC Properties stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $31.67, for a total value of $97,606.94. Following the completion of the transaction, the director now owns 36,343 shares of the company’s stock, valued at approximately $1,150,982.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

LTC Properties Stock Up 1.8 %

LTC Properties stock traded up $0.60 during mid-day trading on Tuesday, reaching $33.09. The company’s stock had a trading volume of 387,345 shares, compared to its average volume of 288,988. The business’s 50 day simple moving average is $32.06 and its 200 day simple moving average is $32.10. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. LTC Properties, Inc. has a 12 month low of $30.30 and a 12 month high of $35.72. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.32 and a beta of 0.87.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 20th will be issued a $0.19 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Thursday, June 20th. LTC Properties’s payout ratio is presently 105.56%.

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.