Sigma Planning Corp Increases Stake in LTC Properties, Inc. (NYSE:LTC)

Posted by Defense World Staff on Feb 24th, 2023

Sigma Planning Corp raised its holdings in LTC Properties, Inc. (NYSE:LTC – Get Rating) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,656 shares of the real estate investment trust’s stock after buying an additional 293 shares during the period. Sigma Planning Corp’s holdings in LTC Properties were worth $249,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in LTC Properties by 1.6% in the first quarter. Vanguard Group Inc. now owns 6,457,708 shares of the real estate investment trust’s stock valued at $248,428,000 after acquiring an additional 102,310 shares in the last quarter. State Street Corp increased its position in LTC Properties by 5.9% in the 2nd quarter. State Street Corp now owns 3,741,901 shares of the real estate investment trust’s stock valued at $143,652,000 after acquiring an additional 208,011 shares during the period. Northern Trust Corp raised its stake in shares of LTC Properties by 20.3% during the second quarter. Northern Trust Corp now owns 626,109 shares of the real estate investment trust’s stock worth $24,037,000 after purchasing an additional 105,704 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LTC Properties by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 566,986 shares of the real estate investment trust’s stock worth $21,812,000 after acquiring an additional 23,752 shares during the period. Finally, Legal & General Group Plc lifted its position in LTC Properties by 1.6% in the second quarter. Legal & General Group Plc now owns 330,025 shares of the real estate investment trust’s stock valued at $12,670,000 after purchasing an additional 5,353 shares during the period. Institutional investors and hedge funds own 72.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets downgraded LTC Properties from a “market perform” rating to an “underperform” rating and set a $38.00 target price for the company. in a research note on Friday, December 16th. Royal Bank of Canada cut their price target on shares of LTC Properties from $44.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, November 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.14.

LTC Properties Stock Up 0.8 %

LTC stock opened at $37.01 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 13.87 and a quick ratio of 13.87. LTC Properties, Inc. has a 12 month low of $32.23 and a 12 month high of $45.49. The firm has a market capitalization of $1.53 billion, a PE ratio of 14.92 and a beta of 0.96. The company’s 50 day simple moving average is $36.92 and its 200-day simple moving average is $39.09.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 23rd will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Wednesday, March 22nd. LTC Properties’s dividend payout ratio (DPR) is presently 91.94%.

Insiders Place Their Bets

In related news, CAO Caroline Chikhale sold 5,000 shares of the stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $39.46, for a total transaction of $197,300.00. Following the sale, the chief accounting officer now owns 39,338 shares of the company’s stock, valued at $1,552,277.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

LTC Properties Profile

(Get Rating)

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. Its property portfolio includes skilled nursing facilities, assisted living facilities, independent living facilities, and memory care facilities. The company was founded by Andre C.