LTC Properties (NYSE:LTC) EVP Buys $344,400.00 in Stock

LTC Properties, Inc. (NYSE:LTC) EVP David Boitano purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was purchased at an average price of $34.44 per share, for a total transaction of $344,400.00. Following the purchase, the executive vice president owned 25,626 shares in the company, valued at $882,559.44. This represents a 64.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

LTC Properties Trading Up 0.7%

LTC Properties stock opened at $34.62 on Monday. LTC Properties, Inc. has a one year low of $31.70 and a one year high of $37.25. The business’s fifty day moving average is $35.28 and its 200 day moving average is $35.42. The stock has a market capitalization of $1.65 billion, a PE ratio of 48.08 and a beta of 0.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68.

LTC Properties (NYSE:LTC) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. LTC Properties had a return on equity of 3.22% and a net margin of 14.58%.The firm had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $65.94 million. During the same period in the prior year, the firm earned $0.78 EPS. The company’s 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. On average, sell-side analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 6.6%. LTC Properties’s dividend payout ratio (DPR) is presently 316.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LTC. American Century Companies Inc. raised its stake in LTC Properties by 4,205.5% during the third quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock valued at $29,939,000 after purchasing an additional 793,370 shares in the last quarter. Advisors Capital Management LLC raised its position in shares of LTC Properties by 51.9% during the 2nd quarter. Advisors Capital Management LLC now owns 723,003 shares of the real estate investment trust’s stock valued at $25,023,000 after buying an additional 246,919 shares in the last quarter. Keybank National Association OH purchased a new stake in shares of LTC Properties during the 3rd quarter valued at about $7,931,000. Millennium Management LLC lifted its holdings in shares of LTC Properties by 74.1% in the 3rd quarter. Millennium Management LLC now owns 442,930 shares of the real estate investment trust’s stock valued at $16,326,000 after acquiring an additional 188,447 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in LTC Properties in the third quarter worth about $6,797,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LTC. Cantor Fitzgerald assumed coverage on LTC Properties in a research note on Wednesday, October 1st. They set a “neutral” rating and a $38.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $43.00 price objective on shares of LTC Properties in a research report on Friday, October 17th. BMO Capital Markets upgraded shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price for the company in a research report on Wednesday, September 24th. Royal Bank Of Canada lifted their price target on shares of LTC Properties from $37.00 to $38.00 and gave the company a “sector perform” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.