LTC Properties (NYSE:LTC) Director David Gruber Acquires 4,000 Shares

LTC Properties, Inc. (NYSE:LTC) Director David Gruber acquired 4,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of $35.41 per share, with a total value of $141,640.00. Following the purchase, the director owned 28,738 shares of the company’s stock, valued at approximately $1,017,612.58. This trade represents a 16.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

LTC Properties Stock Up 1.0%

LTC traded up $0.36 during trading hours on Friday, hitting $35.88. 430,691 shares of the company’s stock were exchanged, compared to its average volume of 354,619. The firm has a market cap of $1.65 billion, a P/E 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. 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 firm has a 50 day moving average of $35.64 and a 200 day moving average of $35.46.

LTC Properties (NYSE:LTC) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The business had revenue of $27.84 million during the quarter, compared to the consensus estimate of $65.94 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. Analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently announced a dec 25 dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd will be paid a dividend of $0.19 per share. This represents a yield of 615.0%. The ex-dividend date of this dividend is Tuesday, December 23rd. LTC Properties’s payout ratio is presently 125.27%.

Institutional Trading of LTC Properties

A number of large investors have recently bought and sold shares of LTC. Cambridge Investment Research Advisors Inc. purchased a new stake in LTC Properties during the 1st quarter valued at approximately $200,000. Principal Financial Group Inc. increased its holdings in shares of LTC Properties by 3.5% in the first quarter. Principal Financial Group Inc. now owns 255,309 shares of the real estate investment trust’s stock valued at $9,051,000 after purchasing an additional 8,646 shares during the period. Penserra Capital Management LLC increased its holdings in shares of LTC Properties by 20.8% in the first quarter. Penserra Capital Management LLC now owns 28,760 shares of the real estate investment trust’s stock valued at $1,019,000 after purchasing an additional 4,951 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of LTC Properties by 45.1% during the first quarter. Envestnet Asset Management Inc. now owns 81,624 shares of the real estate investment trust’s stock worth $2,894,000 after purchasing an additional 25,374 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of LTC Properties by 15.4% during the first quarter. Crossmark Global Holdings Inc. now owns 17,726 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 2,368 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LTC. Royal Bank Of Canada increased their price target 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. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of LTC Properties in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of LTC Properties in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective on the stock in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.60.

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.