Mitsubishi UFJ Asset Management Co. Ltd. Makes New $1.63 Million Investment in LTC Properties, Inc. $LTC

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of LTC Properties, Inc. (NYSE:LTC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 42,439 shares of the real estate investment trust’s stock, valued at approximately $1,632,000.

Several other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in LTC Properties during the 2nd quarter valued at $20,008,000. Eversept Partners LP bought a new position in shares of LTC Properties during the 1st quarter worth about $11,930,000. Goldman Sachs Group Inc. raised its position in shares of LTC Properties by 177.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 323,798 shares of the real estate investment trust’s stock valued at $11,132,000 after buying an additional 207,043 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of LTC Properties during the fourth quarter valued at about $6,556,000. Finally, Millennium Management LLC lifted its stake in shares of LTC Properties by 74.1% in the third quarter. Millennium Management LLC now owns 442,930 shares of the real estate investment trust’s stock valued at $16,326,000 after buying an additional 188,447 shares during the period. 69.25% of the stock is owned by institutional investors.

LTC Properties Stock Performance

NYSE LTC opened at $40.36 on Friday. LTC Properties, Inc. has a twelve month low of $33.64 and a twelve month high of $43.00. The company has a quick ratio of 8.60, a current ratio of 8.60 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.18 billion, a P/E ratio of 14.89 and a beta of 0.56. The company’s 50-day simple moving average is $39.48 and its 200 day simple moving average is $38.68.

LTC Properties (NYSE:LTC) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $98.08 million during the quarter, compared to analysts’ expectations of $79.01 million. LTC Properties had a net margin of 38.84% and a return on equity of 11.42%. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. LTC Properties has set its FY 2026 guidance at 2.760-2.780 EPS. As a group, research analysts forecast that LTC Properties, Inc. will post 2.77 earnings per share for the current fiscal year.

LTC Properties Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.19 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 22nd. LTC Properties’s dividend payout ratio (DPR) is 84.13%.

Insider Activity at LTC Properties

In other LTC Properties news, Director Timothy Triche sold 3,125 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $39.54, for a total value of $123,562.50. Following the sale, the director directly owned 37,786 shares in the company, valued at $1,494,058.44. This represents a 7.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David M. Boitano acquired 10,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $34.77 per share, with a total value of $347,700.00. Following the completion of the purchase, the executive vice president directly owned 46,160 shares of the company’s stock, valued at approximately $1,604,983.20. This represents a 27.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 14,000 shares of company stock valued at $500,900 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on LTC. Royal Bank Of Canada raised LTC Properties from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $45.00 in a research report on Friday, August 14th. Cantor Fitzgerald reduced their price objective on LTC Properties from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company lifted their price objective on LTC Properties from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Nomura upgraded LTC Properties to a “neutral” rating in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of LTC Properties in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.40.

LTC Properties Company Profile

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.