David Boitano Buys 10,000 Shares of LTC Properties (NYSE:LTC) Stock

LTC Properties, Inc. (NYSE:LTC) EVP David Boitano bought 10,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were bought at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the transaction, the executive vice president owned 25,626 shares in the company, valued at approximately $882,559.44. The trade was a 64.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

LTC Properties Stock Up 0.7%

Shares of LTC opened at $34.62 on Monday. The company has a quick ratio of 8.68, a current ratio of 8.68 and a debt-to-equity ratio of 0.90. LTC Properties, Inc. has a 52-week low of $31.70 and a 52-week high of $37.25. The company has a market cap of $1.65 billion, a PE ratio of 48.08 and a beta of 0.62. The business has a fifty day moving average of $35.28 and a 200 day moving average of $35.42.

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

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a $0.19 dividend. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Monday, March 23rd. LTC Properties’s dividend payout ratio is presently 316.67%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on LTC Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $38.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price target on shares of LTC Properties in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. BMO Capital Markets raised shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 target price on the stock in a research report on Wednesday, September 24th. Finally, 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 research note on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of LTC Properties by 37.7% during the first quarter. Royal Bank of Canada now owns 21,344 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 5,840 shares in the last quarter. AQR Capital Management LLC lifted its holdings in LTC Properties by 2.8% during the first quarter. AQR Capital Management LLC now owns 29,259 shares of the real estate investment trust’s stock worth $1,037,000 after buying an additional 806 shares during the period. UniSuper Management Pty Ltd boosted its position in LTC Properties by 7.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,800 shares of the real estate investment trust’s stock valued at $454,000 after acquiring an additional 900 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of LTC Properties in the 1st quarter valued at $496,000. Finally, Anchor Investment Management LLC bought a new position in shares of LTC Properties in the 1st quarter worth $60,000. Hedge funds and other institutional investors own 69.25% of the company’s stock.

About LTC Properties

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.