LTC Properties (NYSE:LTC) Sets New 12-Month High – Here’s Why

Shares of LTC Properties, Inc. (NYSE:LTC) hit a new 52-week high on Thursday . The stock traded as high as $40.98 and last traded at $40.7950, with a volume of 42869 shares trading hands. The stock had previously closed at $40.06.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LTC. Weiss Ratings upgraded shares of LTC Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of LTC Properties from $38.00 to $41.00 and gave the stock a “sector perform” rating in a report on Friday, March 20th. Cantor Fitzgerald cut their price objective on shares of LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of LTC Properties in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company raised their target price on shares of LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, LTC Properties has an average rating of “Hold” and a consensus target price of $40.60.

LTC Properties Price Performance

The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 16.92 and a beta of 0.57. The company has a 50 day moving average of $38.03 and a 200 day moving average of $37.88. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.73.

LTC Properties (NYSE:LTC) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.17. The firm had revenue of $94.41 million for the quarter, compared to the consensus estimate of $72.98 million. LTC Properties had a return on equity of 10.87% and a net margin of 38.99%.The firm’s revenue for the quarter was up 94.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. LTC Properties has set its FY 2026 guidance at 2.750-2.790 EPS. As a group, equities research analysts forecast that LTC Properties, Inc. will post 2.77 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 22nd will be issued a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, September 22nd. LTC Properties’s dividend payout ratio is presently 92.31%.

Insider Buying and Selling

In related news, Director David L. Gruber bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $38.41 per share, with a total value of $153,640.00. Following the completion of the transaction, the director owned 44,045 shares of the company’s stock, valued at approximately $1,691,768.45. The trade was a 9.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David M. Boitano bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average price of $34.77 per share, with a total value of $347,700.00. Following the completion of the acquisition, the executive vice president owned 46,160 shares of the company’s stock, valued at $1,604,983.20. This trade represents a 27.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of LTC Properties

Institutional investors have recently made changes to their positions in the stock. Optiver Holding B.V. raised its position in shares of LTC Properties by 153.1% in the 1st quarter. Optiver Holding B.V. now owns 772 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 467 shares during the period. Farther Finance Advisors LLC boosted its holdings in LTC Properties by 187.5% in the fourth quarter. Farther Finance Advisors LLC now owns 900 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 587 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in LTC Properties by 33.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,346 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 340 shares during the period. Hantz Financial Services Inc. grew its position in LTC Properties by 27.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,606 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 348 shares during the period. Finally, KBC Group NV acquired a new stake in LTC Properties during the first quarter worth about $78,000. 69.25% of the stock is owned by hedge funds and other institutional investors.

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.