LTC Properties, Inc. (NYSE:LTC – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $43.16 and last traded at $42.87, with a volume of 29225 shares. The stock had previously closed at $42.55.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft upgraded LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Thursday, August 27th. Weiss Ratings raised LTC Properties from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. Royal Bank Of Canada raised 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 note on Friday, August 14th. Finally, Wells Fargo & Company boosted their target price on LTC Properties from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, LTC Properties currently has an average rating of “Moderate Buy” and a consensus price target of $44.43.
Read Our Latest Stock Analysis on LTC Properties
LTC Properties Price Performance
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The company had revenue of $98.08 million during the quarter, compared to the consensus estimate of $79.01 million. During the same period in the prior year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. Research analysts expect that LTC Properties, Inc. will post 2.78 earnings per share 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. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is presently 84.13%.
Insider Transactions at LTC Properties
In other news, Director David Gruber bought 3,500 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $38.30 per share, for a total transaction of $134,050.00. Following the completion of the transaction, the director owned 47,545 shares of the company’s stock, valued at $1,820,973.50. This trade represents a 7.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Triche sold 3,125 shares of LTC Properties stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $39.54, for a total value of $123,562.50. Following the sale, the director directly owned 37,786 shares in the company, valued at $1,494,058.44. The trade was a 7.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Keudell Morrison Wealth Management acquired a new stake in LTC Properties in the fourth quarter valued at approximately $1,365,000. Legal & General Group Plc acquired a new position in shares of LTC Properties during the second quarter worth approximately $11,300,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of LTC Properties during the fourth quarter worth approximately $6,556,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of LTC Properties in the 2nd quarter worth $1,194,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of LTC Properties by 178.2% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 129,100 shares of the real estate investment trust’s stock worth $4,438,000 after purchasing an additional 82,700 shares in the last quarter. Institutional investors own 69.25% of the company’s stock.
LTC Properties Company Profile
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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