LTC Properties (NYSE:LTC) Director David Gruber Purchases 1,000 Shares of Stock

LTC Properties, Inc. (NYSE:LTC) Director David Gruber acquired 1,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $35.94 per share, for a total transaction of $35,940.00. Following the purchase, the director directly owned 29,834 shares of the company’s stock, valued at approximately $1,072,233.96. This trade represents a 3.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

LTC Properties Stock Performance

Shares of NYSE LTC opened at $35.88 on Friday. 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 company has a market capitalization of $1.71 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 stock has a 50 day moving average of $35.63 and a 200-day moving average of $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. LTC Properties had a return on equity of 7.95% and a net margin of 38.24%.The business had revenue of $27.84 million during the quarter, compared to the consensus estimate of $65.94 million. During the same quarter last year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 24.2% on a year-over-year basis. LTC Properties has set its FY 2025 guidance at 2.690-2.710 EPS. As a group, equities research analysts predict that LTC Properties, Inc. will post 2.79 EPS for the current year.

LTC Properties Announces Dividend

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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 23rd. This represents a dividend yield of 615.0%. LTC Properties’s payout ratio is presently 316.67%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LTC. Weiss Ratings reissued a “hold (c+)” rating on shares of LTC Properties in a report on Wednesday, October 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research report on Friday, October 17th. Royal Bank Of Canada lifted their price target on LTC Properties from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Cantor Fitzgerald assumed coverage on LTC Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on LTC Properties from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Two 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Institutional Investors Weigh In On LTC Properties

A number of large investors have recently added to or reduced their stakes in LTC. Jupiter Asset Management Ltd. acquired a new position in LTC Properties in the 1st quarter valued at $9,358,000. Advisors Capital Management LLC grew its holdings 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 worth $25,023,000 after purchasing an additional 246,919 shares in the last quarter. Keybank National Association OH bought a new position in shares of LTC Properties in the third quarter worth $7,931,000. Charles Schwab Investment Management Inc. raised its stake in LTC Properties by 15.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 949,322 shares of the real estate investment trust’s stock valued at $33,653,000 after purchasing an additional 126,598 shares in the last quarter. Finally, Nuveen LLC bought a new stake in LTC Properties during the first quarter worth about $4,487,000. Institutional investors and hedge funds own 69.25% of the company’s stock.

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.