LTC Properties, Inc. (NYSE:LTC) Short Interest Down 6.1% in July

LTC Properties, Inc. (NYSE:LTC) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 1,380,000 shares, a decrease of 6.1% from the July 15th total of 1,470,000 shares. Based on an average trading volume of 273,200 shares, the short-interest ratio is presently 5.1 days.

LTC Properties Price Performance

Shares of LTC stock opened at $35.74 on Wednesday. The firm has a fifty day simple moving average of $35.33 and a 200-day simple moving average of $33.57. The company has a market capitalization of $1.55 billion, a PE ratio of 18.61 and a beta of 0.89. LTC Properties has a twelve month low of $30.30 and a twelve month high of $38.28. The company has a current ratio of 11.29, a quick ratio of 15.86 and a debt-to-equity ratio of 0.88.

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

LTC Properties Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a $0.19 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend is Friday, September 20th. LTC Properties’s payout ratio is 118.75%.

Insider Transactions at LTC Properties

In related news, Director David L. Gruber purchased 6,000 shares of LTC Properties stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $35.75 per share, with a total value of $214,500.00. Following the transaction, the director now owns 18,412 shares of the company’s stock, valued at approximately $658,229. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of LTC Properties

Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in LTC Properties by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 21,311 shares of the real estate investment trust’s stock worth $735,000 after purchasing an additional 1,037 shares in the last quarter. Millennium Management LLC raised its position in shares of LTC Properties by 33.7% during the 2nd quarter. Millennium Management LLC now owns 111,188 shares of the real estate investment trust’s stock valued at $3,836,000 after acquiring an additional 28,039 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake in LTC Properties by 155.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 17,439 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 10,621 shares during the last quarter. Caxton Associates LP bought a new stake in LTC Properties during the second quarter valued at $357,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of LTC Properties by 12.7% during the second quarter. Public Sector Pension Investment Board now owns 95,672 shares of the real estate investment trust’s stock worth $3,301,000 after purchasing an additional 10,782 shares during the period. 69.25% of the stock is owned by institutional investors and hedge funds.

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.