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Should You Avoid LTC Properties Inc (LTC)?

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LTC Properties Inc (NYSE:LTC) was in 5 hedge funds’ portfolio at the end of the fourth quarter of 2012. LTC shareholders have witnessed a decrease in activity from the world’s largest hedge funds of late. There were 9 hedge funds in our database with LTC positions at the end of the previous quarter.

In the eyes of most shareholders, hedge funds are assumed to be unimportant, outdated financial tools of years past. While there are more than 8000 funds in operation at the moment, we at Insider Monkey choose to focus on the moguls of this club, about 450 funds. It is widely believed that this group oversees the lion’s share of the hedge fund industry’s total asset base, and by keeping an eye on their best investments, we have deciphered a few investment strategies that have historically outperformed the market. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have beaten the S&P 500 index by 24 percentage points in 7 months (explore the details and some picks here).


Equally as key, positive insider trading sentiment is a second way to break down the world of equities. As the old adage goes: there are a number of motivations for an executive to drop shares of his or her company, but only one, very obvious reason why they would buy. Plenty of academic studies have demonstrated the valuable potential of this method if shareholders understand where to look (learn more here).

With all of this in mind, it’s important to take a glance at the latest action surrounding LTC Properties Inc (NYSE:LTC).

What have hedge funds been doing with LTC Properties Inc (NYSE:LTC)?

In preparation for this year, a total of 5 of the hedge funds we track were bullish in this stock, a change of -44% from the previous quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings significantly.

Of the funds we track, AQR Capital Management, managed by Cliff Asness, holds the biggest position in LTC Properties Inc (NYSE:LTC). AQR Capital Management has a $10.7 million position in the stock, comprising less than 0.1%% of its 13F portfolio. On AQR Capital Management’s heels is Israel Englander of Millennium Management, with a $0.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Ken Griffin’s Citadel Investment Group, Jim Simons’s Renaissance Technologies and Mike Vranos’s Ellington.

Seeing as LTC Properties Inc (NYSE:LTC) has faced falling interest from the entirety of the hedge funds we track, we can see that there exists a select few hedge funds that elected to cut their full holdings heading into 2013. It’s worth mentioning that D. E. Shaw’s D E Shaw sold off the biggest position of all the hedgies we watch, valued at about $3.2 million in stock., and Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital was right behind this move, as the fund said goodbye to about $0.7 million worth. These transactions are interesting, as total hedge fund interest fell by 4 funds heading into 2013.

Insider trading activity in LTC Properties Inc (NYSE:LTC)

Insider purchases made by high-level executives is at its handiest when the company in focus has seen transactions within the past 180 days. Over the latest 180-day time frame, LTC Properties Inc (NYSE:LTC) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to LTC Properties Inc (NYSE:LTC). These stocks are Healthcare Realty Trust Inc (NYSE:HR), Medical Properties Trust, Inc. (NYSE:MPW), Universal Health Realty Income Trust (NYSE:UHT), National Health Investors Inc (NYSE:NHI), and Sabra Health Care REIT Inc (NASDAQ:SBRA). This group of stocks are the members of the reit – healthcare facilities industry and their market caps are similar to LTC’s market cap.

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