LTC Properties has filed an announcement that it may sell off $5.8 million in shares belonging to the founder’s estate. The Westlake Village real estate investment trust, which invests in health-care facilities, was founded by Andre Dimitriadis in 1992. He died in August at age 72. Wendy Simpson, chairwoman and chief executive of the company, is executor of his estate. On Tuesday, Simpson entered into a pre-arranged trading plan to sell up to 164,679 shares of the company’s stock on behalf of the estate. At current prices, the shares have a value of about $5.8 million. The plan has no timetable for disposing of the shares. Any sales under the plan will be disclosed through subsequent SEC filings. Shares closed Friday down 66 cents or 1.8 percent to $35.36 in trading on the New York Stock Exchange.
