David Gruber Purchases 1,000 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) Director David Gruber bought 1,000 shares of LTC Properties stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $35.94 per share, for a total transaction of $35,940.00. Following the transaction, the director directly owned 29,834 shares of the company’s stock, valued at approximately $1,072,233.96. This trade represents a 3.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

LTC Properties Stock Up 1.0%

Shares of NYSE:LTC opened at $35.88 on Friday. The business has a 50-day moving average price of $35.63 and a 200 day moving average price of $35.46. The company has a current ratio of 9.06, a quick ratio of 9.06 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.71 and a beta of 0.67. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $39.89.

LTC Properties (NYSE:LTC) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $27.84 million for the quarter, compared to analyst estimates of $65.94 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. LTC Properties’s revenue was up 24.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. Sell-side analysts expect that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The business also recently disclosed a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a dividend yield of 615.0%. LTC Properties’s dividend payout ratio (DPR) is presently 316.67%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LTC shares. Royal Bank Of Canada boosted their target price on LTC Properties from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Wells Fargo & Company dropped their price objective on LTC Properties from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. BMO Capital Markets raised LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of LTC Properties in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on shares of LTC Properties in a research report on Wednesday, October 1st. They set a “neutral” rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.60.

Institutional Trading of LTC Properties

A number of large investors have recently made changes to their positions in LTC. Principal Financial Group Inc. boosted its holdings in shares of LTC Properties by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust’s stock valued at $9,051,000 after buying an additional 8,646 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in LTC Properties during the 1st quarter worth $9,358,000. Cambridge Investment Research Advisors Inc. purchased a new stake in LTC Properties in the first quarter valued at $200,000. Charles Schwab Investment Management Inc. boosted its stake in LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock valued at $33,653,000 after acquiring an additional 126,598 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in LTC Properties by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 81,624 shares of the real estate investment trust’s stock valued at $2,894,000 after acquiring an additional 25,374 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.

LTC Properties Company Profile

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.