Hsbc Holdings PLC bought a new stake in LTC Properties, Inc. (NYSE:LTC – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 93,594 shares of the real estate investment trust’s stock, valued at approximately $3,599,000. Hsbc Holdings PLC owned approximately 0.17% of LTC Properties as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in LTC. Canada Pension Plan Investment Board bought a new stake in LTC Properties during the 2nd quarter worth about $638,000. Legal & General Group Plc bought a new position in shares of LTC Properties in the second quarter worth about $11,300,000. The Manufacturers Life Insurance Company acquired a new position in shares of LTC Properties during the second quarter worth approximately $919,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of LTC Properties during the second quarter worth approximately $1,194,000. Finally, Capital Square LLC bought a new stake in shares of LTC Properties during the second quarter valued at approximately $1,241,000. Institutional investors and hedge funds own 69.25% of the company’s stock.
Wall Street Analyst Weigh In
LTC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Thursday. Citigroup reiterated a “market outperform” rating on shares of LTC Properties in a research report on Wednesday, June 10th. Royal Bank Of Canada upgraded LTC Properties from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $41.00 to $45.00 in a research report on Friday, August 14th. Nomura raised LTC Properties to a “neutral” rating in a research note on Friday, August 14th. Finally, Cantor Fitzgerald decreased their price target on LTC Properties from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.67.
Insider Transactions at LTC Properties
In other LTC Properties news, EVP David M. Boitano acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average price of $34.77 per share, with a total value of $347,700.00. Following the purchase, the executive vice president owned 46,160 shares of the company’s stock, valued at $1,604,983.20. This represents a 27.65% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $39.54, for a total transaction of $123,562.50. Following the completion of the transaction, the director directly owned 37,786 shares in the company, valued at approximately $1,494,058.44. The trade was a 7.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 14,000 shares of company stock valued at $500,900 over the last three months. 2.20% of the stock is currently owned by corporate insiders.
LTC Properties Stock Down 0.1%
Shares of LTC Properties stock opened at $40.65 on Friday. The business has a fifty day simple moving average of $39.90 and a 200 day simple moving average of $38.81. The stock has a market cap of $2.19 billion, a PE ratio of 15.00 and a beta of 0.56. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58. LTC Properties, Inc. has a 12 month low of $33.64 and a 12 month high of $43.00.
LTC Properties (NYSE:LTC – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The company had revenue of $98.08 million during the quarter, compared to analysts’ expectations of $79.01 million. LTC Properties had a return on equity of 11.42% and a net margin of 38.84%.LTC Properties’s revenue was up 63.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Research analysts predict that LTC Properties, Inc. will post 2.78 EPS for the current year.
LTC Properties Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 5.6%. LTC Properties’s dividend payout ratio (DPR) is 84.13%.
About LTC Properties
LTC Properties, Inc (NYSE: LTC) is a real estate investment trust that specializes in financing and investing in long-term health care properties. The company focuses on providing capital to operators of senior housing and health care facilities through sale-leaseback transactions, mortgage financings and structured finance arrangements. Its portfolio primarily comprises skilled nursing facilities, assisted living communities and memory care centers.
Since its founding in 1992, LTC Properties has built a diversified portfolio of properties located across the United States.
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