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

Strategic Financial Concepts LLC bought a new stake in shares of LTC Properties, Inc. (NYSE:LTC) during the 1st quarter, Holdings Channel reports. The fund bought 19,233 shares of the real estate investment trust’s stock, valued at approximately $625,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LTC. SG Americas Securities LLC raised its stake in LTC Properties by 541.5% in the third quarter. SG Americas Securities LLC now owns 26,244 shares of the real estate investment trust’s stock worth $843,000 after buying an additional 22,153 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of LTC Properties by 5.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 39,741 shares of the real estate investment trust’s stock worth $1,277,000 after acquiring an additional 1,891 shares in the last quarter. Raymond James & Associates lifted its stake in shares of LTC Properties by 9.1% in the 3rd quarter. Raymond James & Associates now owns 18,412 shares of the real estate investment trust’s stock valued at $592,000 after purchasing an additional 1,532 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of LTC Properties during the third quarter valued at approximately $582,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of LTC Properties by 12.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,967 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 1,812 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.

Insider Activity

In related news, Director Timothy Triche sold 3,082 shares of the company’s 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 transaction, the director now owns 36,343 shares in the company, valued at approximately $1,150,982.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on LTC Properties in a research report on Tuesday, January 30th. They set a “hold” rating and a $34.00 price objective for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.50.

LTC Properties Stock Up 1.8 %

Shares of LTC Properties stock traded up $0.60 during midday trading on Tuesday, hitting $33.09. The company had a trading volume of 387,345 shares, compared to its average volume of 288,988. LTC Properties, Inc. has a 52-week low of $30.30 and a 52-week high of $35.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 13.29 and a current ratio of 13.29. The stock has a market capitalization of $1.44 billion, a P/E ratio of 15.32 and a beta of 0.87. The company has a 50 day moving average of $32.06 and a 200 day moving average of $32.10.

LTC Properties Announces Dividend

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