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

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

LTC Properties Price Performance

LTC traded up $0.36 during trading on Friday, reaching $35.88. 430,691 shares of the stock were exchanged, compared to its average volume of 354,619. The company has a debt-to-equity ratio of 0.67, a current ratio of 9.06 and a quick ratio of 9.06. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.71 and a beta of 0.67. LTC Properties, Inc. has a 1 year low of $31.70 and a 1 year high of $39.89. The business’s 50 day moving average price is $35.64 and its two-hundred day moving average price is $35.46.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results 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 company had revenue of $27.84 million for the quarter, compared to the consensus estimate of $65.94 million. LTC Properties had a net margin of 38.24% and a return on equity of 7.95%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, equities research analysts anticipate that LTC Properties, Inc. will post 2.79 earnings per share for the current year.

LTC Properties Announces Dividend

The firm also recently announced 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 is Tuesday, December 23rd. This represents a yield of 615.0%. LTC Properties’s dividend payout ratio is 125.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LTC shares. Wells Fargo & Company cut their price target on shares of LTC Properties from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. JMP Securities reiterated 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 reissued a “hold (c+)” rating on shares of LTC Properties in a research report on Wednesday, October 8th. Cantor Fitzgerald began coverage on LTC Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their price objective on LTC Properties from $36.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its position in shares of LTC Properties by 75.0% in the third quarter. Jones Financial Companies Lllp now owns 700 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 300 shares during the period. Harbor Capital Advisors Inc. lifted its position in LTC Properties by 55.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 984 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 352 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in LTC Properties in the 2nd quarter worth approximately $41,000. Hantz Financial Services Inc. grew its position in LTC Properties by 701.3% in the third quarter. Hantz Financial Services Inc. now owns 1,258 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of LTC Properties during the third quarter valued at approximately $55,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

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.