Keybank National Association OH Acquires New Shares in LTC Properties, Inc. $LTC

Keybank National Association OH acquired a new position in LTC Properties, Inc. (NYSE:LTC) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 215,174 shares of the real estate investment trust’s stock, valued at approximately $7,931,000.

A number of other large investors have also recently bought and sold shares of LTC. Advisors Capital Management LLC lifted its stake in shares of LTC Properties by 51.9% during the second 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 during the period. Qube Research & Technologies Ltd increased its position in shares of LTC Properties by 1,488.7% during the second quarter. Qube Research & Technologies Ltd now owns 127,220 shares of the real estate investment trust’s stock worth $4,403,000 after acquiring an additional 119,212 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in LTC Properties by 392.2% in the second quarter. Cubist Systematic Strategies LLC now owns 125,278 shares of the real estate investment trust’s stock valued at $4,336,000 after acquiring an additional 99,823 shares in the last quarter. Marshall Wace LLP grew its position in shares of LTC Properties by 18.3% in the 2nd quarter. Marshall Wace LLP now owns 544,742 shares of the real estate investment trust’s stock worth $18,854,000 after acquiring an additional 84,110 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in LTC Properties by 50.4% during the second quarter. First Trust Advisors LP now owns 196,320 shares of the real estate investment trust’s stock worth $6,795,000 after acquiring an additional 65,792 shares during the period. Institutional investors and hedge funds own 69.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald set a $36.00 price objective on shares of LTC Properties in a report on Monday, January 5th. JMP Securities restated a “market outperform” rating and issued a $43.00 target price on shares of LTC Properties in a research report on Friday, October 17th. Wells Fargo & Company lifted their price target on LTC Properties from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Royal Bank Of Canada boosted their price objective on LTC Properties from $37.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LTC Properties in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, LTC Properties has an average rating of “Hold” and a consensus price target of $38.60.

LTC Properties Trading Up 0.9%

LTC Properties stock opened at $36.51 on Monday. LTC Properties, Inc. has a 12-month low of $31.70 and a 12-month high of $37.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 8.68 and a quick ratio of 8.68. The stock has a market capitalization of $1.74 billion, a PE ratio of 50.71 and a beta of 0.62. The firm has a 50 day simple moving average of $35.47 and a 200-day simple moving average of $35.57.

LTC Properties (NYSE:LTC) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $65.94 million. During the same period last year, the company posted $0.78 EPS. The firm’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 expect that LTC Properties, Inc. will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a $0.19 dividend. The ex-dividend date is Monday, March 23rd. This represents a c) annualized dividend and a yield of 6.2%. LTC Properties’s payout ratio is 316.67%.

Insider Activity

In other LTC Properties news, Director David L. Gruber acquired 1,000 shares of LTC Properties stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $35.94 per share, for a total transaction of $35,940.00. Following the transaction, the director owned 29,834 shares in the company, valued at approximately $1,072,233.96. This trade represents a 3.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David M. Boitano acquired 10,000 shares of the stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of $34.44 per share, for a total transaction of $344,400.00. Following the purchase, the executive vice president directly owned 25,626 shares in the company, valued at approximately $882,559.44. The trade was a 64.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 15,000 shares of company stock worth $521,980. 2.00% of the stock is owned by company insiders.

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.