LTC Properties, Inc. (NYSE:LTC) Receives $39.00 Average Price Target from Analysts

LTC Properties, Inc. (NYSE:LTC) has earned an average rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.60.

LTC has been the topic of several recent analyst reports. BMO Capital Markets raised shares of LTC Properties from an “underperform” rating to a “market perform” rating and set a $39.00 price objective on the stock in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of LTC Properties in a report on Monday, December 29th. Cantor Fitzgerald set a $36.00 price objective on LTC Properties in a report on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $43.00 price objective on shares of LTC Properties in a research report on Friday, October 17th. Finally, Royal Bank Of Canada increased their target price 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.

Insiders Place Their Bets

In related news, EVP David M. Boitano acquired 10,000 shares of the stock in a transaction dated Wednesday, December 31st. The stock was bought at an average cost of $34.44 per share, with a total value of $344,400.00. Following the purchase, the executive vice president directly owned 25,626 shares of the company’s stock, valued at approximately $882,559.44. This represents a 64.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Gruber bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $35.41 per share, for a total transaction of $141,640.00. Following the completion of the transaction, the director directly owned 28,738 shares in the company, valued at approximately $1,017,612.58. This trade represents a 16.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 15,000 shares of company stock worth $521,980. 2.00% of the stock is owned by company insiders.

Institutional Trading of LTC Properties

Institutional investors have recently modified their holdings of the company. State Street Corp increased its position in LTC Properties by 2.0% during the 2nd quarter. State Street Corp now owns 3,163,763 shares of the real estate investment trust’s stock worth $109,498,000 after purchasing an additional 61,678 shares in the last quarter. Geode Capital Management LLC increased its position in shares of LTC Properties by 2.2% in the second quarter. Geode Capital Management LLC now owns 1,245,676 shares of the real estate investment trust’s stock worth $43,118,000 after acquiring an additional 26,631 shares in the last quarter. American Century Companies Inc. increased its position in shares of LTC Properties by 4,205.5% in the third quarter. American Century Companies Inc. now owns 812,235 shares of the real estate investment trust’s stock worth $29,939,000 after acquiring an additional 793,370 shares in the last quarter. Advisors Capital Management LLC raised its stake in shares of LTC Properties by 3.8% in the 3rd quarter. Advisors Capital Management LLC now owns 750,689 shares of the real estate investment trust’s stock valued at $27,670,000 after acquiring an additional 27,686 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of LTC Properties by 3.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 655,717 shares of the real estate investment trust’s stock valued at $24,169,000 after acquiring an additional 22,908 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.

LTC Properties Stock Up 1.1%

LTC opened at $35.38 on Friday. The firm has a market cap of $1.68 billion, a P/E ratio of 49.14 and a beta of 0.62. The business’s fifty day simple moving average is $35.27 and its 200 day simple moving average is $35.42. LTC Properties has a 52 week low of $31.70 and a 52 week high of $37.25. 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 (NYSE:LTC) last released its 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 net margin of 14.58% and a return on equity of 3.22%. The company had revenue of $50.05 million for the quarter, compared to analyst estimates of $65.94 million. During the same period in the prior year, the firm earned $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 anticipate that LTC Properties will post 2.79 EPS for the current fiscal year.

LTC Properties Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a c) dividend on an annualized basis and a yield of 6.4%. LTC Properties’s dividend payout ratio (DPR) is currently 316.67%.

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.