David L. Gruber Buys 6,000 Shares of LTC Properties, Inc. (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) Director David L. Gruber bought 6,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the completion of the transaction, the director now owns 18,412 shares in the company, valued at $658,229. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

LTC Properties Trading Up 0.7 %

NYSE LTC opened at $36.00 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 15.86 and a current ratio of 11.29. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 18.75 and a beta of 0.89. The firm has a 50 day simple moving average of $34.93 and a 200-day simple moving average of $33.21. LTC Properties, Inc. has a one year low of $30.30 and a one year high of $38.28.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.22). The business had revenue of $50.12 million during the quarter, compared to analysts’ expectations of $33.47 million. LTC Properties had a net margin of 46.78% and a return on equity of 10.22%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Equities research analysts anticipate that LTC Properties, Inc. will post 2.64 EPS for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, September 20th. This represents a $2.28 annualized dividend and a yield of 6.33%. LTC Properties’s payout ratio is 118.75%.

Institutional Investors Weigh In On LTC Properties

A number of hedge funds have recently bought and sold shares of LTC. Rhumbline Advisers grew its position in shares of LTC Properties by 3.3% during the second quarter. Rhumbline Advisers now owns 142,896 shares of the real estate investment trust’s stock worth $4,930,000 after buying an additional 4,516 shares in the last quarter. GraniteShares Advisors LLC lifted its stake in LTC Properties by 14.3% in the second quarter. GraniteShares Advisors LLC now owns 59,362 shares of the real estate investment trust’s stock worth $2,048,000 after acquiring an additional 7,406 shares during the last quarter. Van ECK Associates Corp grew its holdings in LTC Properties by 11.7% during the 2nd 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 in the last quarter. Commonwealth Equity Services LLC increased its position in shares of LTC Properties by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,178 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 447 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of LTC Properties by 180.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,034 shares of the real estate investment trust’s stock valued at $1,623,000 after purchasing an additional 30,258 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

LTC Properties Company 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.