20,823 Shares in LTC Properties, Inc. (NYSE:LTC) Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC acquired a new stake in shares of LTC Properties, Inc. (NYSE:LTC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,823 shares of the real estate investment trust’s stock, valued at approximately $719,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of LTC Properties by 45.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,525 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 3,274 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in LTC Properties by 4.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 49,544 shares of the real estate investment trust’s stock valued at $1,712,000 after purchasing an additional 2,199 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of LTC Properties by 3,358.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 658,026 shares of the real estate investment trust’s stock worth $22,735,000 after purchasing an additional 638,999 shares during the period. State of Alaska Department of Revenue lifted its position in shares of LTC Properties by 4.3% in the 4th quarter. State of Alaska Department of Revenue now owns 47,131 shares of the real estate investment trust’s stock worth $1,627,000 after buying an additional 1,949 shares during the last quarter. Finally, abrdn plc lifted its position in shares of LTC Properties by 1.1% in the 4th quarter. abrdn plc now owns 241,376 shares of the real estate investment trust’s stock worth $8,313,000 after buying an additional 2,583 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LTC. Citizens Jmp upgraded shares of LTC Properties from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities raised LTC Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Tuesday, January 7th.

LTC Properties Stock Down 0.8 %

LTC stock opened at $33.73 on Thursday. The stock has a market cap of $1.53 billion, a PE ratio of 14.48 and a beta of 0.93. The firm’s 50-day simple moving average is $34.91 and its 200 day simple moving average is $36.19. LTC Properties, Inc. has a fifty-two week low of $30.35 and a fifty-two week high of $39.89. The company has a quick ratio of 11.60, a current ratio of 11.60 and a debt-to-equity ratio of 0.75.

LTC Properties Dividend Announcement

The company also recently declared a jan 25 dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 20th will be paid a $0.19 dividend. The ex-dividend date is Thursday, February 20th. This represents a dividend yield of 6.45%. LTC Properties’s payout ratio is currently 97.85%.

Insider Activity

In other LTC Properties news, Director David L. Gruber purchased 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $37.16 per share, with a total value of $111,480.00. Following the completion of the purchase, the director now owns 21,516 shares in the company, valued at $799,534.56. This trade represents a 16.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

About LTC Properties

LTC Properties, Inc is a real estate investment trust, which engages in managing seniors housing and health care properties. It operates through the Texas, Michigan, Florida, Wisconsin, Colorado, and Remaining States geographic segments. The company was founded by Andre C. Dimitriadis on May 12, 1992 and is headquartered in Westlake Village, CA.